Chinese Commerce Minister Zhong Shan. Photo: Reuters/Aly Song

Private enterprises are contributing more and more to the Chinese economy, Yicai.com reported, citing Zhong Shan, the Commerce Minister.

More than 90% of domestic trade, 48% of foreign exports and 49% of foreign investment are being contributed by private enterprises, according to Zhong.

Zhong emphasized that the Ministry of Commerce will continue to support private enterprises in their efforts to play a bigger role in boosting consumption, expanding foreign trade, introducing foreign capital and investing overseas.

Zhong pledged to optimize the foreign trade environment for private enterprises, encouraging them to participate in the Import Expo, Canton Fair and overseas exhibitions, and taking part in the pilot Free Trade Zone and overseas economic and trade cooperation zones.

The Ministry will also remove more administrative fees, promote export tax rebates and improve trade financing, Zhong said.

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