The private sector in China is seeking an elevated legal status under the new private economy promotion law, with economist Teng Tai emphasizing the need for reassurance of Beijing’s long-term support. The draft law, compiled to boost private sector confidence, includes measures to promote fair competition, improve investment environments, encourage innovation, and ensure companies follow the correct political direction. Despite being a milestone event, Teng believes the draft is insufficient and should highlight the private sector’s vital contribution to tax revenues and job creation.
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Staff at Red SchoolHouse’s Toh Tuck branch left unpaid after preschool’s sudden closure
Several employees at Red SchoolHouse @ Toh Tuck in Singapore have reported unpaid salaries after the preschool's abrupt closure in May, which left parents and children in limbo. The Early Childhood Development Agency (ECDA) issued a warning for breaching regulations, as the school did not provide the required six months' notice before ceasing operations, while the franchisor cited lease issues and impending liquidation.https://www.youtube.com/watch?v=NYVsOKv_Hpc Explain It To Me Like I'm 5: Several teachers from a closed...
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