China’s economic planner announced on Thursday that it will soon launch two new policies to support non-state-owned businesses. These policies were revealed after the country’s top party and government leadership released their “opinions” on supporting non-state-owned businesses. The aim is to address the economic challenges faced by non-state-owned businesses, especially in the wake of lackluster growth and recent crackdowns on various sectors.

Despite the slowdown in growth, Beijing has been cautious about implementing large-scale stimulus due to long-standing debt issues and other concerns. The upcoming policies will focus on promoting business investment and overall development, according to Li Chunlin, deputy director of the National Development and Reform Commission.

During a press briefing on Wednesday, Li emphasized the importance of developing the non-state-owned sector of the economy and guiding society to recognize the contribution and significance of non-state-owned businesses.

In a notable shift, Tencent’s Pony Ma expressed the need to support non-state-owned businesses in an article published by state media. This aligns with Beijing’s efforts to emphasize its support for businesses. Ma highlighted the role of these measures in inspiring and guiding private enterprises to maintain confidence and pursue development without hindrance.

Tencent confirmed that Ma wrote the article, further solidifying their commitment to this cause.