Private enterprise

Job seekers at a job fair in Taiyuan, Shanxi province, China, 15 March 2023. (CNS)

Solving China’s soaring youth unemployment

In 2023, a record of 11.58 million students in China are expected to graduate from higher education institutions. But the perennial struggle to find employment after graduation is especially dire this year. How will China's youths cope with the situation, and what measures have the Chinese government put in place to stabilise employment?
Chinese Premier Li Qiang, alongside Chinese Vice Premiers Ding Xuexiang and He Lifeng, attends a news conference following the closing session of the National People's Congress, at the Great Hall of the People, in Beijing, China, 13 March 13, 2023. (Florence Lo/Reuters)

Chinese Premier Li Qiang's new government will be faithful executors of CCP's grand plans

Zaobao correspondent Yang Danxu looks at the first press conference by new Chinese Premier Li Qiang, and notes how he has defined the role of the new government as an "implementation team", which will faithfully uphold the authority of the CCP Central Committee and implement the plans of the 20th Party Congress.
Gang leader Gao Qiqiang (starred by Zhang Songwen) in The Knockout. (Internet)

Netizens in China debate: Are Chinese entrepreneurs all bad guys?

A comment by New Oriental’s founder Michael Yu Minhong has sparked online debate on the ideals of private entrepreneurs in China. However, amid the commotion, Yu actually has sound advice for the business community in navigating through tough times.
People wait for a bus in the central business district during rush hour in Beijing on 7 March 2023. (Jade Gao/AFP)

Can China rally private enterprises and boost domestic demand?

China’s top officials have set out the target for the country’s economic growth and drivers for 2023, but the real work is just beginning. To meet economic growth targets and ensure economic recovery, it seems that the basic idea is to boost domestic demand and support the private sector.
A man walks along a street in the central business district in Beijing on 3 February 2023. (Jade Gao/AFP)

How Chinese private firms can be made more confident of the government's support

Academic Pei Sai Fan notes that the Chinese government’s moves to regulate and clean up various sectors in China’s economy has led to private enterprises feeling uncertain about what might happen to them in future, especially as declarations of support for the private sector economy seem to be just lip service.
Signage at the Alibaba office in Beijing, China, on 17 January 2023. (Bloomberg)

Will Beijing truly 'reconcile' with Chinese private enterprises in 2023?

Verbal sparring by Chinese internet opinion makers seem to suggest that the winds are blowing in favour of private firms at the moment. But will officials be able to walk the talk in their quest to use the private sector to drive China’s economic growth?
People walk on a street during morning rush hour in Wuchang district, after the government gradually loosened the restrictions on Covid-19 control, in Wuhan, Hubei province, China, 9 December 2022. (Martin Pollard/Reuters)

China’s economy to recover next year

Lianhe Zaobao correspondent Yu Zeyuan looks at China’s declining economy and the factors leading up to it, including the strict Covid controls over the past three years. However, following the recent annual Central Economic Work Conference, there may be signs that the authorities are looking to adjust their approach and help the economy to recover.
A deserted road in the central business district in Beijing, China, on 29 November 2022. (Bloomberg)

China is facing a harsh economic winter

Commentator Chen Kuohsiang notes that even after the 20th Party Congress and talks between Chinese and US Presidents Xi Jinping and Joe Biden during the G20 summit, the Chinese economy is not facing an easy time, not least because of Covid-19 controls, the US's trade restrictions and China's stringent policy on private enterprises.
People walk along a main shopping area during the Alibaba's Singles' Day shopping festival in Shanghai, China, 11 November 2021. (Aly Song/Reuters)

China’s economic outlook is not bleak

China’s 20th Party Congress signalled that the government is focused on dual circulation, in particular domestic circulation. However, that does not mean that China has the intention for implementing a closed-door policy. In fact, a healthy domestic circulation will boost China's ecosystem for innovation and growth and help China further open up.