China bets on private sector to boost Covid-hit economy

Beijing has vowed to go all out next year to save its Covid-hit economy by boosting consumption and loosening control over private industry, including the struggling tech and property sectors. The new pledge marks a big shift from leader Xi Jinping's years-long effort to rein in private businesses, which were perceived as too powerful and "disorderly."

source https://www.cnn.com/2022/12/19/business/china-private-sector-covid-hit-economy-intl-hnk/index.html