Private sector needs support, ACFIC head says

Accelerated steps will be made to guide private enterprises to form a better mindset on modern governance and promote the construction of a modern operating mechanism for the private economy, Gao Yunlong, chairman of the All-China Federation of Industry and Commerce, said on Sunday.

"The federation has strived to improve the business environment and lower operating costs for private enterprises over the past years. The federation has, for example, suggested through various channels to drive a level playing field for both State-owned and private companies," Gao said on the sidelines of this year's two sessions.

With 5 million member companies, the federation has collected through various channels difficulties and problems, including financing difficulties, among private enterprises and relayed them to the government so supporting policies can be implemented, he said.

"Boosting the confidence of private entrepreneurs is critical to stabilizing market confidence and driving rapid economic development," he said. "More efforts will be made to improve the service mechanism for private entrepreneurs, and to support them to develop on a broader stage."