China’s billionaires have stepped out of the shadows to praise the Communist party’s efforts to restore private sector confidence as Beijing attempts to recharge the economy’s faltering post-pandemic recovery.
The country’s typically low-profile titans of industry — many of whom have been hit by regulatory crackdowns in recent years — put out a series of editorials and statements on Wednesday and Thursday declaring their support for a new action plan by the party to bolster private companies.
The apparently orchestrated expression of confidence from the tycoons comes as the world’s second-largest economy is struggling with sagging private sector business and consumer confidence.
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