China Seeks New Economic Policies to Support Floundering Private Sector
• China needs new economic theories to spell out private sector's role and impact to boost economy
• Private sector accounts for major share of investment, GDP, jobs; was hit hard by recent crackdowns
• Beijing should update theories, dispel misunderstandings, treat all businesses equally
• New bureau and policies aim to increase funding, services, and support for private enterprises
• Leading economist urges articulating private sector's role to rebuild entrepreneur confidence