Wang’s News Talk | Why is the CCP reinvigorating the private economy? Is this effective?

On July 19th, the Chinese Communist Party (CCP) Central Committee and the State Council jointly issued the "Thirty-One Opinions on Promoting the Development and Growth of the Private Economy." This move is seen as an official signal to revitalize the private sector of the economy, and entrepreneurs such as Ma Huateng have expressed their welcome and support for the policy. However, the market's response has been quite tepid, with both A-shares and Hong Kong stocks experiencing a decline. Internet users have also been mocking this policy. Why did the CCP suddenly release this document? What challenges have private enterprises faced? Why are netizens not buying into it? What lies ahead for China's private enterprises?
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