Communist China To Be 3/4 Private By Decade's End

After creating half the country's wealth in 2005, private enterprises are set for an even bigger role in the years ahead.

The non-State-owned sector is projected to contribute three-quarters of China's GDP in five years, when at least 70 percent of the country's firms will be privately owned. The Chinese Academy of Social Sciences predicted in its annual report - the "Blue Book of the Non-State-Owned Economy" that these firms will play a big role in the local economy. Private enterprises have proliferated, especially in recent years, when the government set out constitutional guarantees and policy incentives to help the development of the sector, and protect the property of entrepreneurs.