China promotes healthy, high-quality development of private sector

Estimated reading time: 3 minutes

By Zhong Yin, Du Shangze

Xi, also general secretary of the Communist Party of China (CPC) Central Committee and chairman of the Central Military Commission, made the remarks when visiting national political advisors from the China National Democratic Construction Association and the All-China Federation of Industry and Commerce, who are attending the first session of the 14th National Committee of the Chinese People's Political Consultative Conference (CPPCC).

The past five years since the 19th National Congress of the CPC have been truly momentous and remarkable, and the year 2022 was of great importance in the history of the CPC.

China has won the critical battle against poverty as scheduled, finished building a moderately prosperous society in all respects, and embarked on a new journey of building a modern socialist country in all respects.

Last year, China achieved stable and orderly policy adjustment and shifting of focus in COVID-19 control in a short period of time, maintained the world's lowest fatality rate in the pandemic and declared a major and decisive victory in COVID-19 response.

Besides, the country maintained stable commodity price in general while global inflation reached a 40-year high. Its GDP grew by 3 percent, which was considerably high among major economies in the world.

Xi stressed that the CPC Central Committee always unswervingly consolidates and develops the public sector, and unswervingly encourages, supports and guides the development of the non-public sector.

He also said the CPC Central Committee always believes that private enterprises and entrepreneurs "belong to our own family."

Efforts should be made to put in place a cordial and clean relationship between government and business, Xi said.

During the meeting, CPPCC member Zeng Yuqun from CATL, a Chinese battery manufacturer and technology company, said efforts should be made to safeguard upstream mineral resources when speaking of external dependence on strategic mineral resources.

CPPCC member Xie Ru from Jiangxi province briefed on the work achievements of the chamber of commerce of Shuibei township, Xinyu, east China's Jiangxi province over the recent years.

The chamber of commerce, by enhancing Party building in its development, has led 320 members from 138 enterprises to join a village vitalization campaign, which improved per capita annual income by at least 1,000 yuan ($143.37) for each local resident, encouraged 256 entrepreneurial individuals to start businesses and created local jobs for more than 6,000 farmers.

Xi hailed the private sector as an important force in the endeavor to realize the two centenary goals and the Chinese Dream of national rejuvenation.

Private firms should take the initiative to pursue high-quality development, Xi said. The investment of private capital should be energized, and more private capital should be encouraged and attracted into major state projects and key industrial and supply chain projects, he noted.

Noting that Chinese modernization is the modernization of common prosperity for all, Xi said both state-owned and private enterprises must shoulder the social responsibility of promoting common prosperity.

Xi called on private enterprises to ensure that all employees share their development outcomes.