The private sector love bureau

The macro planner (NDRC) will establish a new bureau for private sector development as part of the government's push to boost the private economy.

• The new bureau was announced at a State Council presser Monday.

The bureau will coordinate policy planning and implementation of private sector support. Major functions include:

• Monitoring and analyzing the private economy
• Coordinating the drafting of private sector support measures
• Establishing a communication mechanism with private firms

Get smart: Previous initiatives to support the private sector have fallen short of expectations due to lackluster implementation.

• Creating a specialized government institution focused on this issue – with dedicated personnel and budget – shows that Beijing is serious this time.

Get smarter: That said, we aren't uber-mega-wicked excited. That's because this is an internal NDRC department rather than a supra-ministerial policy coordination body like a Party commission.

• The new bureau won't have the authority to force other government agencies to do its bidding.

Go deeper: Want to learn more about Beijing's private sector support?

• Pro subscribers can read about the risks and opportunities facing MNCs in our recent Quick Take.