China steps up third attempt to strengthen private enterprise sector

SINGAPORE -- China is stepping up its third major attempt to get private enterprise into a wider range of businesses, says ratings agency Standard & Poor's. “Several policy measures introduced this year appear to promote this objective,” S&P says in a new report. “Even as the Government continues to see a leading role for its State-owned entities (SOEs), it's clearly pushing for the private sector to increase in importance.” Says S&P credit analyst, Kim Eng Tan: "If the reformers prove to be 'third-time lucky,' then strong economic growth could continue to be a key sovereign rating support for the foreseeable future."