P. M. BRIEFING : Chinese Private Businesses Falling
The number of private businesses in China has fallen for the first time since 1981 after bitter attacks in the official press seen as a government attempt to exploit public resentment of affluent entrepreneurs.
The Farmers Daily reported today that at the end of June the country had 12.34 million private businesses employing 19.43 million people, a drop of 2.19 million and 3.57 million respectively from the end of last year.
Output value of private business in industry, construction and transport--three of the biggest sectors apart from restaurants and retail shops--fell 29% in the first six months of the year from the same period last year, it said.
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