Premier Wen Jiabao of China unveiled a package of economic policies this spring in order to boost the country’s private economic sector. The reforms are aimed at small and micro-sized businesses and were designed to lessen their tax burden and increase loans available to them.
The process includes encouraging small financial institutions in the country to offer more money to small, private businesses. The Premier added that the government would properly guide this form of private financing, but it’s a move that appeals to both citizens of China and the country’s financial strength as a whole.
Wen also pledged to implement further measures to encourage private investment in China’s monopoly industries in order to address problems within the country’s economic structure.