Revitalizing Private Enterprises and Fostering Common Prosperity

Given the significant role of private enterprise in national economic development, this chapter explores the reinvigoration of private enterprise in China. It highlights the challenges faced by Chinese private enterprises. Since the global financial crisis in 2008, China’s economic growth rate has slowed, even though per capita income has risen to middle-to-high income levels. Additionally, the demographic dividend has gradually disappeared, and China is now confronting a range of challenges, including a labor shortage driven by the accelerated aging of its population.