Chinese president and chairman of the Communist Party of China (CPC) has stressed the party’s commitment to support for private enterprise and private entrepreneurs at the annual Two Sessions meeting of China’s legislative bodies for 2023.
“We must always treat private enterprises and private entrepreneurs as our own people, support private enterprises when they encounter challenges, and give guidance to private enterprises when they meet with confusion,” Xi said on 6 March, during a speech delivered to members of the Democratic National Construction Association and the Federation of Industry and Commerce who participated in the first meeting of the 14th Chinese People’s Political Consultative Conference (CPPCC) National Committee.
“We must guide private enterprises and private entrepreneurs in correctly understanding the central directives and policies of the party, strengthen their confidence to forge ahead and engage in bold development, and achieve the healthy, high-quality development of the private economy.
“The private economy is a key force for the party in uniting and guiding the people of the nation over the long-term to achieve the goals of the two centenaries and the grand revival of the Chinese people.”
Key measures slated for increasing support for private enterprise by the Chinese government include:
- Optimising the development environment for private enterprise. “Removing systemic restraints that restrict the ability of private enterprises to participate fairly in market competition. Lawfully upholding the rights and interests of private enterprises and private entrepreneurs. Implementing the requirement for equal treatment of state and private enterprises at the level of systems and laws. Encouraging and supporting the private economy and private enterprise to grow and become strong, and invigorating market expectations and confidence.”
- Actively employing the key role of private enterprises in stabilising employment and driving growth in income. “Adopting more effective measures to support the growth of micro, small and medium-sized enterprises and individual industrial and commercial registrants. Supporting Internet platform enterprises in creating employment, expanding consumption and playing a salient role in international competition.”
- Establishing close and clean relationships with between government and commerce (亲清政商关系) in an appropriate manner. “Dispelling difficulties and removing concerns for private enterprises and private entrepreneurs. Enabling them to move freely, charge forth, and focus wholeheartedly on achieving growth.”
- Invigourating the vitality of investment by private capital. “Encouraging and guiding more private capital to participate the development of major state projects, and key industrial chain and supply projects, in order to make a greater contribution to the creation of new growth conditions and driving high-quality development.”
- Lawfully standardising and guiding the healthy growth of different forms of capital. “Effectively preventing and resolving systemic financial risk, and creating an environment of fair competition and competition to develop for enterprises under different forms of ownership.”
- Strengthening ideological and political guidance. “Guiding private enterprise and private entrepreneurs in correctly understanding the directives and policies of the Party Central Committee with regard to the “Two Unwaverings” (两个毫不动摇) and the “Two Healths” (两个健康). Removing concerns, alleviating burdens, and developing vigorously.”
In return for stronger support, the CPC and Chinese government also outlined a range of requirements and expectations for private enterprises, with an especial focus on high quality growth, patriotic sentiment and improved labour relations.
- Private enterprises must implement new development concepts. “Deeply grasp the inadequacies that exist for and the challenges faced by growth of the private economy. Changing growth methods, adjusting industrial structures, switching growth drivers, firmly maintaining primary operations, vigorously engaging in real operations, and walking the path of high-quality growth with self-awareness.”
- Private enterprises that are capable and qualified must strengthen independent innovation. “[They must] play an even greater role in the process of advancing the commercialisation of scientific and technological research and achieving scientific and technological independence and self-strengthening.”
- Private enterprises must strengthen their sense of national concern. “[They must] implement the development ideology of people at the centre, and strengthen their sense of mission and responsibility with regard to enriching others after enriching themselves, and spurring common prosperity.”
- Private enterprises must actively establish harmonious labour relations internally. “[They must] drive the establishment of interest collectives of all workers, to enable the fruits of enterprise development to fairly benefit all workers.”