Chinese president Xi Jinping has highlighted the role of the private enterprise in driving higher quality growth of China’s economy as well as serving economic policy goals of Beijing.
In a speech delivered to members of the Chinese People’s Political Consultative Conference (CPPCC) on 6 March, Xi stressed the need to “guide private enterprises and entrepreneurs to correctly understand the policies of the Party Central Committee, enhance confidence, go into battle unburdened, and boldly develop.”
“We must implement the development of a close and clean relationship between government and business, solve the problems for private enterprises and entrepreneurs, and allow them to unleash their potential, lighten their burdens, and focus on development.
“Private enterprises should implement new development concepts, deeply understand the shortcomings and challenges of private economic development, transform their development methods, adjust their industrial structure, and shift their growth momentum. They should remain focused on their primary business, strengthen their real operations, and consciously pursue high-quality development.”
State-owned media has since more broadly disseminated Xi’s speech, in order to reiterating the central government’s signalling on the matter of private enterprise support.
“The vast number of private enterprises and entrepreneurs are deeply studying and understanding the spirit of President Xi Jinping’s important speech, fully unleashing their own vitality and resilience as ‘economic cells’ of China in accordance with the direction pointed out by President,” a report from the Xinhua News Agency said.
“Departments at all levels have taken action and are working towards creating a fair competition and development environment for various ownership enterprises in accordance with President Xi Jinping’s requirements, thinking and acting together.”