Tianjin issues policies supporting private businesses

TIANJIN, Jan. 2 (Xinhua) -- China's northern municipality of Tianjin has introduced a raft of policies supporting local private businesses.

The policies cover six main areas where the development of private businesses is experiencing bottlenecks.

The policies will lower business costs, enhance financial support, set up special funds, increase competitiveness, and award major innovative projects, in addition to providing a fair environment for competition, according to the municipal government.

Authorities said they hoped the policies would "revitalize private businesses" and "push for high-quality development for Tianjin."