Chinese authorities pledge wider market access for private companies, including participation in national projects

Workers weld at a workshop of an automobile manufacturing enterprise in Qingzhou city, East China's Shandong Province. (Photo/Xinhua)

China's top economic planner, the National Development and Reform Commission (NDRC), pledged to further remove market access barriers and revise the market access negative list for private enterprises in a timely manner, in a bid to accelerate the development of the private economy, the state broadcaster CCTV reported on Tuesday.

The announced new moves aim to encourage greater private sector participation in major national projects and programs, including those aligned with major national strategies, building up security capacity in key areas, as well as the large-scale renewal of equipment and the trade-in of consumer goods.

The announcement came after the Chinese government's call on Monday to promote the healthy and high-quality development of the country's private sector.

The scale, level of innovation, and global competitiveness of the Chinese private economy have been further enhanced, and the country will continue to remove obstacles to market access in order to build a unified, open, and competitive market-oriented system in the country, an official from NDRC said.

Official data has revealed that the share of private enterprises among all high-tech enterprises in the country has increased to more than 92 percent.

Zheng Bei, deputy head of the NDRC, pledged that the new market access "negative list" is set to be released soon and will fully implement the principle of "non-prohibition equals to entry." Specific measures will be introduced to continuously open up competitive infrastructure fields and major national scientific research infrastructure to all enterprises on a level footing, the official noted.

In addition, the NDRC stated that it will implement targeted measures to address the concerns raised by private enterprises, and provide them with effective support, according to the CCTV report.

"The government will continue to cultivate a supportive environment for private sector growth, resolutely cracking down on the acts that harm corporate reputations, such as defamation and the dissemination of false or misleading information online," Zheng noted.

China has always promoted the development of its private sector and has consistently pursued the creation of a market-oriented, law-based, and international business environment.

In October 2024, the country published a highly-anticipated draft law on private sector promotion to solicit public opinion, which will be reviewed by the Standing Committee of the 14th National People's Congress at its upcoming 14th session to be convened in late February.