China state planner meets company heads as seeks economic recovery (updated)

China Feihe

17/07/2023 11:59

(Recasts, adds details, context throughout)
       BEIJING, July 17 (Reuters) - The head of China's state
planning commission on Monday held a meeting with officials from
private companies, in the latest attempt to improve their
confidence that they can support the post-pandemic recovery.
    China's private firms have been bruised by COVID-19 curbs,
and a regulatory crackdown on tech and property sectors, even as
authorities have reversed some policies to try to bolster the
economy.
    Zheng Shanjie, Chairman of China's National Development and
Reform Commission (NDRC), met officials from companies including
China Fangda  000055.SZ  and China Feihe  6186.HK , covering
sectors including iron and steel smelting, electronic devices
and modern logistics. 
    "NDRC will strive to optimise the environment for the
development of the private economy, and form a synergy for the
promotion of the private economy's development and expansion," 
a statement from the planner said.
    China's policymakers have held a series of meetings to try
to boost private economy. Premier Li Qiang last Wednesday urged
Chinese tech platforms to support its faltering economy.  
    The same day, the state planner praised Tencent and Alibaba
in a statement detailing a study it had done on platform firms. 
 
    Last week, the NDRC held a meeting with firms including
Baidu  9988.HK  and said it would address their specific demands
in a targeted manner.
    Private fixed-asset investment shrank by 0.2% in the first
six months from a year earlier, in contrast to an 8.1% rise  in
investment by state entities, official data showed on Monday,
indicating weak private sector confidence.

 (Reporting by Ella Cao, Ellen Zhang and Kevin Yao, Editing by
Angus MacSwan and Barbara Lewis)
 ((Kevin.yao@thomsonreuters.com))