China issues legal guidelines to support private business

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A Local Culinary Adventure: inspired by Halifax's Seaport Market | SaltWire #cooking #cookingtipsBEIJING - China's highest court on Tuesday issued guidelines to improve the legal environment for private business, state media CCTV said, suggesting renewed efforts by policymakers to support the private sector, a key growth driver.

The government announced in July plans to shore up the sector, including extending tax and fee support targeting smaller businesses but confidence among private businesses has not shown meaningful improvement. In order to improve the public's perception of the private sector, the guidelines said authorities would crack down on behaviours including slandering, disparaging or smearing private firms and entrepreneurs and misleading the public online to attract attention, CCTV reported.

The guidelines also stressed the need to expand financing channels for small and medium-sized private firms and vowed to deal with illegal loans.

 

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