Private firms, which account for 60% of China's gross domestic product and 80% of urban jobs, were hurt by three years of COVID curbs and a regulatory crackdown that targeted sectors from technology to private tutoring.
Banking and financial institutions should set annual service targets for private enterprises, increase the weight of related businesses serving private enterprises in performance appraisal and gradually increase the proportion of loans to private enterprises, it said.
China should also expand private firms' bond financing and guide financial institutions to expand the bond financing scale of private enterprises, according to the statement.
China should back the listing, mergers and acquisitions, and reorganisation of private enterprises, including supporting qualified companies in going public overseas, it said.
Fixed-asset investment by private firms fell 0.6% in January-September year-on-year, highlighting weak private sector confidence.
Persons:
Tingshu Wang, Ryan Woo, Ziyi Tang, Kevin Yao, Christopher Cushing
Organizations:
People's Bank of China, REUTERS, Rights, Banking, Garden Holdings, HK, Bloomberg, Thomson
Locations:
Beijing, China, Rights BEIJING