IN a token measure to build a more diversified society, the Communist Party has set up the country's first non-governmental chamber of commerce, which, at least in theory, is similar to private business lobbies in Western countries. Official reports said the All-China Federation of Industry and Commerce (ACFIC) had taken on another name, the China Non-governmental Chamber of Commerce. The decision was announced by Politburo member Li Lanqing at the opening of a plenum of the ACFIC in Beijing on Wednesday. Mr Li, also a Vice-Premier, said the business body would become a ''bridge'' between the Government and the non-government economic sector. The development of private economy would be accelerated as economic reform quickened, he said. Mr Li urged ACFIC to promote the spirit of patriotism and law and order to build a good image and healthy development of the private sector. Analysts said the booming quasi-capitalist economy of the country over the past decade or so had given rise to a new class of entrepreneurs who were poised to make waves in the political arena. A mainland political scientist, Professor Gao Fang, however, said it was too early to say that the rule of the communists was under threat. Professor Gao, a leader of the Chinese Association of Political Sciences, said: ''Yes, the private sector is flourishing in the mainland, especially the culture and education sector. For instance, there are now more private universities and schools. ''It's a sign of progress . . . The party will continue to maintain control over the business body although its new name will give it a strong private image. It is conducive for it to increase ties with their counterparts overseas,'' he said.