Opinion: How Can Policymakers Boost Confidence in Private Enterprises?

Good news has arrived for China's private sector, which has been stuck in an economic predicament.

China’s Communist Party and government Wednesday issued a joint pledge to improve conditions for private businesses through a new set of measures, adding another key policy document laying the groundwork to support the private economy.

The pledge came after a lower-than-expected GDP growth in the second quarter and record-high youth unemployment. Private businesses typically absorb a large portion of the young workforce.