China Drafts Law to Boost Private Sector Amid Economic Struggles
• China starts drafting bill to boost private sector and tackle sluggish economy following major setbacks • Proposed "private economy promotion law" aims to treat state-owned and private enterprises equally • Law focuses on protecting property rights, ensuring fair market access for private firms • Comes as China tries to revive economy after bumpy recovery from zero-COVID policy • Effectiveness questioned - may just repeat existing measures, concrete steps still needed