Measures to foster recovery coming

China Daily reports that China's top economic regulator, the National Development and Reform Commission (NDRC), announced that the country will implement several measures to foster a robust economic recovery throughout this year. These measures include the acceleration of the legislative process to enact a law on promoting the development of the private sector and revising the negative list for foreign investment access. The focus will be on addressing the challenges faced by private businesses, boosting business confidence, and ensuring equal treatment of private and State-owned enterprises. Additionally, the NDRC will introduce policies to promote high-standard opening-up and eliminate restrictions on foreign investment access in the manufacturing sector. The goal is to attract and utilize foreign capital and address the difficulties faced by foreign-funded enterprises. The NDRC has recently launched its seventh batch of major foreign investment projects, including fields like biomedicine, automobile manufacturing, new energy batteries, and the chemical industry. By implementing these measures, China aims to support economic growth and strengthen international economic cooperation.

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