Chinese Finance Minister Commits to Equal Treatment for Private and Foreign Invested Enterprises

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The Chinese central government has reiterated its commitment to support for private enterprise and foreign investment via the channel of fiscal policy in 2023.

Speaking at the China Development Forum 2023 on 26 March, finance minister Liu Kun (刘昆) said private enterprise would be one of several focal areas for fiscal policy in 2023, as part of broader efforts to drive improvements to the Chinese economy.

These focal areas will include:

  1. Strengthening support for market entities to further enhance the internal driving force behind high-quality development. “We will implement the Two Unwaverings [of support for both state-owned and private enterrprise] and treat all types of market entities, including private enterprises and foreign-invest enterprises, equally and fairly,” Liu said. “We will continuously optimize the development environment, and enhance the vitality of market entities.”
  2. Fully leveraging fiscal policy to regulate the economy and promote stable economic operation.
  3. Accelerating the implementation of the innovation-driven development strategy and supporting the development of a modern industrial system.
  4. Vigorously implementing the regional development strategies, focus on people-centred urbanisation.