Policies issued to help private businesses

Tianjin has introduced a raft of new policies supporting local private businesses. The policies cover six main areas in which the development of private businesses is experiencing bottlenecks. The policies will lower business costs, enhance financial support, set up special funds, increase competitiveness and award major innovative projects. In addition, they aim to create a fair environment for competition. Authorities said they hoped the policies would “revitalize private businesses” and “push for high-quality development”.