China's Private Sector Struggles Despite Government Support
• China's private firms struggling despite government support measures, with 85% saying sector in difficult situation and only 22.5% planning more investment
• Beijing's 31-point action plan to support private sector seen as "mere lip service" by 70% of firms surveyed
• Private sector accounts for over 50% of tax revenue and GDP and 80% of jobs, but investment declining while state investment rises
• Volatile China-US relationship seen as major uncertainty clouding business outlook
• Calls to abolish differentiation between private and state firms to reduce discrimination against entrepreneurs