Chinese Private Businesses Face Increased Regulatory Pressure Amid Economic Slowdown

The South China Morning Post reports that private businesspeople in China are expressing concern over increased regulatory enforcement, which is adding to existing difficulties caused by an economic slowdown. The fifth plenary session of the Central Committee, the upper tier of China's ruling Communist Party, is drawing significant attention as the world's second-largest economy assumes a more visible role in international affairs. In a segment of this series, Emma Ma addresses businesspeople regarding how to adjust to intensified regulatory oversight and address other economic matters that the government has committed to resolving. Zhu, who has a company that provides water-purification equipment for construction projects, noted that while Evergrande still owes 500,000 yuan (US$74,885), the most significant issue is the frequent failure of numerous other clients to settle their invoices promptly. "Evergrande still owes us 500,000 yuan (US$74,885)," Zhu said, adding that the worst problem was not the unpaid debt, but the many other clients who routinely failed to settle their bills on time. Zhu stated that although he was initially anxious, he has become accustomed to the situation, observing that payment delays are widespread within the construction sector.