The NDRC listened to the opinions of private entrepreneurs on the current economic situation.

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China's economic planner the National Development and Reform Commission (NDRC) met with several private companies, including , to seek their advice as the country strives to revitalize its private sector.

Cong Liang, a deputy director of the NDRC, hosted a meeting with six private companies in the manufacturing sector, including Hengrui Medicine, Zhejiang NHU, Nio, Anta, TCL, and Jingye Group, according to an announcement released today by the NDRC.

Cong listened to the real feelings and opinions and suggestions of private entrepreneurs on the current economic situation, according to the announcement.

In addition, Zhao Chenxin, another deputy director of the NDRC, recently visited Shenzhen Das Intellitech, Songshan Lake industrial base, and Guangzhou Baiyun Electric Equipment, the announcement said.

Zhao learned about the problems and challenges faced by these companies in promoting energy-saving and carbon-reducing technologies and services, promoting digital transformation of the energy sector, the green development of the traditional manufacturing industry, and listened to suggestions.

The move aims to listen to the real ideas of private entrepreneurs and study the problems and suggestions raised by the companies, according to the announcement.

On July 20, the NDRC said at a briefing that it has established a regular communication mechanism with private enterprises in order to better communicate with them.

In addition, yesterday's meeting of the Political Bureau of the Communist Party of China Central Committee acknowledged that China's economy is currently facing new challenges, in stark contrast to its performance at the meeting at the end of April regarding better-than-expected economic growth.

These challenges are mainly due to a lack of domestic demand, difficulties in the operation of some enterprises, more risks in key areas, and a complicated and severe external environment, the meeting mentioned.

The Political Bureau meeting emphasized that China needs to actively expand domestic demand, boost consumption of automobiles, electronic products and household goods, and promote the consumption of services such as sports and leisure, culture and tourism.

That appeared to inspire investor optimism, driving shares of US-listed Chinese companies higher on Monday, with Nio rising more than 10 percent.

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