Hey there! Did you know that China is introducing a big new law to help private businesses? It’s called the Private Sector Promotion Law, and it’s the first of its kind in the country! 🏢🎉
So, what’s the private sector? It’s all the businesses that are owned by people or groups, not by the government. Think of your local stores, restaurants, and tech companies! In China, the private sector is super important. It helps the economy grow by creating jobs, making new inventions, and trading with other countries. 🌐💡
Here are some cool facts:
- The private sector makes up over 60% of China’s total economy! 🏦
- It provides more than 80% of jobs in cities. That’s a lot of people! 👩💼👨💼
- Over 70% of new inventions and technologies come from private businesses. Wow! 🔬
- More than 90% of all companies in China are private enterprises. That’s almost all of them! 🏭
This new law, starting on May 20, aims to make things even better for private businesses. It will help them grow, create more jobs, and come up with amazing new ideas. The government hopes it will unlock the full potential of these businesses. How exciting! 💫
Why is this important? Well, when businesses do well, they can make better products, provide more services, and improve people’s lives. It also means more opportunities for everyone! 🌟
So, keep an eye on China’s private sector—they might just come up with the next big thing! 🚀
Reference(s):
Graphics: China's first law on private economy to come into effect
cgtn.com
