All-China Federation of Industry and Commerce booster for private business

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Last updated at: (Beijing Time) Sunday, November 30, 2003

All-China Federation of Industry and Commerce booster for private business

The All-China Federation of Industry and Commerce has become a major supporting power for the development of the private sector as most of its members are private business people.

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The All-China Federation of Industry and Commerce has become a major supporting power for the development of the private sector as most of its members are private business people.

This was learned at the current Second Session of the Ninth Executive Committee of the All-China Federation of Industry and Commerce, which was held in this capital of central China's Henan Province Saturday.

Huang Mengfu, president of the federation, in a work report delivered to the session, said that this year the federation has submitted a number of proposals concerning amendments to laws regarding the issues of taxation, investment and the development of the market economy.

He expected the coming year to witness a major improvement in the environment for developing private businesses in China.

According to Huang, as of the third quarter of this year, the federation had 1.64 million members, including 1.25 million from the country's private sector.

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