Private Economic Development

Background

The private economy has gradually developed since the beginning of reform and opening up, actually representing one of the main driving forces of the Chinese economy. After 40 years of development, the private economy still encounters the problems of uneven regional development, unfair treatment of resource access, as well as the irregular governance, lower management level, short-term goals and business behaviors. Compared with SOEs and foreign-funded enterprises, the private enterprises generally have the lower performance of social responsibility, corporate governance and environmental responsibility. Private enterprises still face the difficult inheritance, which can be closely related to the company's shareholding structure, corporate governance and professional manager system. Thus, the private economy requires to be further supported by the policies, in order to better promote the reforms. In addition, the higher level of ESG (environmental, social, and governance) awareness and actions are also very essential.

Major challenges faced by the private economy

l  The overall lower development level of private economy

l  Unfair treatment of the private economy in terms of resources and policies

l  The healthy development of private enterprises is restricted by their own governance, low management level and short-term goal

l  The government has policies to promote the development of private economy, but having the poor promotion and the limited effect

What the King Parallel can provide

l  Provide customers with the development strategy of private economy based on the strategic vision, the law of industrial development and industrial structure evolution

l  Provide the government with the scientific, systematic and operational private economic support policies and implementation plans

l  Provide the consultancy suggestions for government and private enterprises on the reform (equity, governance and professional manager system), management (strategy, organization, process, remuneration and performance), and the development (sustainable development, ESG, innovation)

Characteristic of the King Parallel

l  Experience in policy orientation and consultation for the government

l  Look at the problems from the perspective of the senior / top leaders

l  Take the insight into the laws of economy, industry and regional development

l  The foundation and experience of management consultation provide the foundation for policy making