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China's Communist Party: Private companies must be loyal

Christian Fernsby |
China’s ruling Communist Party is demanding a show of greater loyalty from the sprawling private sector.

Topics: CHINA   

Business people must “maintain high consistency” with the party regarding the political aspects of position, direction and principles, say the guidelines published by the Xinhua official news agency.

“We should build a backbone team of people in the private economy that can be relied on and used at critical moments,” it said.

The party also encouraged private firms to participate in reforms of state firms and the “Belt and Road” initiative, while pledging to improve the business environment for them.

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