China vows more steps to help private firms

China will take further steps to continuously optimize the business environment for the development of private sector, with a key focus on clearing arrears owed to enterprises, said Liu Jieyi, spokesperson for the second session of the 14th National Committee of the Chinese People's Political Consultative Conference, on Sunday.

Addressing a news conference in Beijing, Liu said the private sector serves as a vital force in advancing Chinese modernization and plays a significant role in promoting technological innovation, expanding employment and improving people's livelihoods.

According to him, a series of policy measures aimed at bolstering the high-quality development of China's private sector have focused on solving the practical problems of private enterprises and greatly boosted their confidence.

He said the prospects of the private sector are promising amid the sustained growth of the country's economy.

The National Committee of the CPPCC has made great efforts to address the pressing concerns of private enterprises, such as financing difficulties, protecting their legitimate rights and interests, and helping them enhance core competitiveness, he added.