CHINA’S highest court Tuesday issued guidelines to improve the legal environment for private business, broadcaster CCTV said, suggesting renewed efforts by policymakers to support the private sector, a key growth driver. The government announced in July plans to shore up the sector, including extending tax and fee support targeting smaller businesses. The private sector produces more than 60% of China’s gross domestic product and accounts for more than 80% of urban jobs. The guidelines issued by the Supreme People’s Court, emphasized the legal protection of private firms and the personality rights of entrepreneurs, according to CCTV. In order to improve the public’s perception of the private sector, the guidelines said authorities would crack down on behaviors including slandering, disparaging or smearing private firms and entrepreneurs and misleading the public online to attract attention, CCTV reported. Authorities will also crack down on infringements on the legitimate rights and interests of private firms, CCTV said, citing the guidelines. The guidelines also stressed the need to expand financing channels for small and medium-sized private firms and vowed to deal with illegal loans. China is seeking private investment for 4,894 major projects with total investment of 5.27 trillion yuan (US$723 billion), after private investment shrank 0.7% in the first eight months of this year from a year earlier. (SD-Agencies) | 