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China announces the creation of a state body for the promotion of the private sector

MADRID, 4 Sep.

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China announces the creation of a state body for the promotion of the private sector


The Chinese body in charge of economic planning, the National Development and Reform Committee (NDRC), announced Monday that it will create the Office for the Development of the Private Economy to strengthen growth and confidence. of the sector.

"Promoting the development and growth of the private sector is a large-scale systemic project, with a long interweaving of policies and many interconnections," said the statement released by the organization, although it will contribute to providing "brighter perspectives" for the 'giant'. Asian'.

Likewise, the note has informed that the institution of this department responds to the "current situation" of the private market and that it aspires to "strengthen the general coordination of policies in other related fields" and to "promote early implementation [...] ] of other draft measures".

The new Office will maintain contact with companies through seminars and surveys to try to address and resolve their concerns, as well as improve their competitiveness at an international level, the deputy secretary general and director general of the personnel department of the NDRC explained at a press conference. , Zhang Shixin.

A week ago, China reported that it would extend preferential tax policies for foreign citizens working in the country until the end of 2027 with the aim of promoting foreign presence in the country.

In this way, China will continue with the tax exemptions on the benefits of foreign employees, among which are housing, language learning and conciliation aid, according to the Chinese Ministry of Finance.

At the beginning of August, the European Union Chamber of Commerce in China called on the authorities to clarify "urgently" whether these exemptions would continue in force after the end of 2023. Once the extension was announced, the Chamber described the news as " very positive."

"Having defended this issue at all levels of Government, the European Chamber believes that it will contribute to reversing the drain of foreign talent that has taken place in recent years," the Chamber of Commerce said in a press release.

"By announcing it on the eve of the start of the school year, it will be very well received news among families who have made the decision to both come and stay in China," he added.

In this sense, China already extended this aid on January 1, 2022 until December 31, 2023 in what represented a 180-degree turn, since, until just two days before, such benefits were to decline with the New Year.