China Panel Endorses Private Enterprise

China gave one of its strongest endorsements yet to private enterprise, saying that all obstacles to the development of the private sector should be eliminated. The influential State Development Planning Commission said that private enterprises should be put on an “equal footing with state-owned enterprises.” In March, China characterized private enterprises as an “important component” of the economy. The most important effect of this shift might be greater access to China’s two stock markets, in Shanghai and Shenzhen. Lack of access to capital has been a big hindrance to private enterprise in China.