President Xi Jinping has flagged emphatic support for Chinese private enterprise during a speech delivered at the Great Hall of the People at the start of November.
“The purpose of today’s assembly is to maintain and strengthen the outstanding momentum of the growth of China’s private economy,” said Xi according to a report from the People’s Daily.
“The growth of the national economy can create a Chinese miracle, and the contribution of the private economy is undeniable.
“The policy of us providing unwavering encouragement, support and guidance to the development of the non-public economy hasn’t changed…the private economy is an intrinsic factor in our national economic system, and private enterprise and private entrepreneurs are our own people.”
More than 50 members of China’s private sector were in attendance at the event, with representatives from the software, pharmaceutical, internet safety and environmental sectors also delivering speeches of their own.
Xi outlined a slew of policies to further support the development of private enterprises in China including:
- Reductions in the tax and fee burden for enterprises;
- Resolution of the problem of costly and difficult financing for private enterprise;
- The creation of a fair competitive environment;
- Improvements to policy implementation methods;
- The establishment of clear relations between government and commerce;
- The protection of the personal and property safety of entrepreneurs.