There have been proposals for the Party and the State to issue a groundbreaking policy resolution to promote private sector development, similar to the recent Resolution 57 of the Politburo on the development of science and technology. However, is this necessary and reasonable, given that the “Resolution No. 10 of the 12th Central Committee of the Party on developing the private sector into an important driving force of the socialist-oriented market economy,” issued on June 3, 2017, already contains comprehensive content and is still being implemented? In discussions with two groups, I received different responses. Experts familiar with institutional and policy matters believe that while many resolutions on economic development have been issued, their efficiency has been limited. They argue that what is needed now is a breakthrough in thinking and a decisive attitude, which could be demonstrated through a new resolution. On the other hand, representatives of businesses—mainly small and medium-sized enterprises (SMEs)—tend to accept the status quo rather than demand changes in institutional or policy environments. However, they all list numerous daily difficulties and challenges they face, focusing more on survival than on expecting growth. From a practical perspective, given the Party’s broad policy direction of identifying and […]
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