The Chinese government will take strong measures to further unlock business potential in the private sector and encourage private investment. Premier Li Keqiang called on local and central government departments to take concrete measures to boost the enthusiasm of private enterprises, after hearing reports from an extensive inquiry on private investment across the country, during the State Council’s executive meeting he chaired on June 22. During the meeting, Premier Li urged government at all levels to pay attention to problems revealed during the inquiry, especially private firms’ difficulties in obtaining financing as well as excessive administrative charges. He said that private investment is of crucial importance for China to maintain stable economic growth, secure job employment and pursue economic structural reform. A month ago, China’s State Council initiated a nationwide fact-finding mission about private investment, covering 30 provinces and regions across China. A third-party evaluation of the results of the inquiry was carried out by the All-China Federation of Industry and Commerce as well as research institutions, which engaged more than 500 enterprises conducting more than 10,000 surveys on private investment policies. Major factors leading to declines in private investment growth include the country’s ongoing efforts to reduce excess capacity, insufficient policy implementation, as well as difficulty in obtaining financing for small private companies at local levels. Premier Li said the country’s goal in nurturing new economic driving forces, developing new economy, carrying out structural reform, particularly supply-side reform, requires strong development of medium and small companies in the private sector. “Otherwise, we will not achieve the goal we expected,” he said.