Xi Jinping emphasized at the symposium for private enterprises that the development prospects of the private economy are broad and promising. It is the right time for private enterprises and entrepreneurs to showcase their talents.

General Secretary of the Central Committee of the Communist Party, President, and Chairman of the Central Military Commission Xi Jinping attended a symposium for private enterprises in Beijing on the morning of the 17th and delivered an important speech. He emphasized that the basic guidelines and policies of the Party and the state for the development of the private economy have been incorporated into the system of socialism with Chinese characteristics and will be consistently adhered to and implemented, without change. The development prospects for the private economy in the new era and new journey are broad and promising, and it is the right time for private enterprises and entrepreneurs to showcase their talents. We must unify our thoughts, strengthen our confidence, and promote the healthy and high-quality development of the private economy. I hope that private enterprises and entrepreneurs will have a patriotic ambition, focus on development, operate lawfully and ethically, and contribute to common prosperity, making new and greater contributions to advancing Chinese-style modernization.
Standing Committee member of the Political Bureau of the Central Committee and Premier Li Qiang, Standing Committee member of the Political Bureau of the Central Committee and Vice Premier Ding Xuexiang attended the symposium. Standing Committee member of the Political Bureau of the Central Committee and Chairman of the National Committee of the Chinese People's Political Consultative Conference Wang Huning presided over the symposium.
At the symposium, six representatives of private enterprises, including Ren Zhengfei, CEO of Huawei Technologies Co., Ltd., Wang Chuanfu, Chairman of BYD Company Limited, Liu Yonghao, Chairman of New Hope Group Co., Ltd., Yu Renrong, Chairman of Shanghai Weir Semiconductor Co., Ltd., Wang Xingxing, CEO of Hangzhou Yushu Technology Co., Ltd., and Lei Jun, Chairman of Xiaomi Corporation, spoke successively, offering opinions and suggestions on promoting the development of the private economy under the new circumstances.

On February 17, General Secretary of the Central Committee, President, and Chairman of the Central Military Commission Xi Jinping attended a symposium for private enterprises in Beijing and delivered an important speech.
Photo by Xie Huanchi, Xinhua News Agency.

After listening to everyone's speeches, Xi Jinping delivered an important speech. He stated that private enterprises have thrived alongside the great journey of reform and opening up. For decades, the understanding of the status and role of the private economy in the reform, opening up, and socialist modernization, as well as the Party and state's policies for the development of the private economy, have been consistent in theory and practice, keeping pace with the times. The Party and the state adhere to and improve the basic socialist economic system, unwaveringly consolidate and develop the public ownership economy, and unwaveringly encourage, support, and guide the development of the non-public ownership economy; the Party and the state ensure that all types of ownership economies can equally use production factors, participate fairly in market competition, and receive equal legal protection, promoting complementary advantages and common development of various ownership economies, and fostering the healthy development of the non-public ownership economy and the healthy growth of non-public ownership entrepreneurs.
Xi Jinping pointed out that the private economy in our country has now formed a considerable scale and holds significant weight, providing a solid foundation for promoting high-quality development of the private economy. In the new era and new journey, our social productivity will continue to rise, the living standards of the people will steadily improve, and reform and opening up will further deepen, especially with the rapid development of education and technology, a large and high-quality talent pool and labor resources, a well-matched industrial system and infrastructure, and the enormous market potential of over 1.4 billion people, which brings many new opportunities for the development of the private economy and provides greater space for growth. The system of socialism with Chinese characteristics has many significant advantages, and the socialist market economy system and the legal system of socialism with Chinese characteristics are continuously improving, which will provide stronger guarantees for the development of the private economy.
Xi Jinping emphasized that the difficulties and challenges currently faced by the development of the private economy are generally arising from the process of reform, development, and industrial transformation and upgrading; they are localized rather than systemic, temporary rather than long-term, and can be overcome rather than unsolvable. We must unify our thoughts and actions with the Party Central Committee's judgment on the domestic and international situation, and align with the Party Central Committee's decisions and deployments regarding economic work, seeing the future, brightness, and prospects amid difficulties and challenges, maintaining development determination, enhancing development confidence, and keeping the spirit of striving to win.
Xi Jinping pointed out that solidly implementing policies and measures to promote the development of the private economy is the current focus of work. Whatever the Party Central Committee has decided must be resolutely implemented without compromise. We must resolutely eliminate various obstacles to the equal use of production factors and fair participation in market competition, continuously promote the fair opening of competitive fields in infrastructure to all types of business entities, and continue to make great efforts to solve the problems of financing difficulties and high costs for private enterprises. We must focus on resolving the issue of overdue payments to private enterprises. We must strengthen law enforcement supervision, focus on rectifying arbitrary charges, fines, inspections, and seizures, and effectively protect the legal rights and interests of private enterprises and entrepreneurs according to the law. At the same time, we must recognize that our country is a socialist rule of law country, and any illegal acts by enterprises of all ownership types cannot evade investigation and punishment. We must earnestly implement various relief policies, improve the precision of policies, pay attention to comprehensive measures, and treat all enterprises equally. We must further build a clean and friendly relationship between government and business. Party committees and governments at all levels must base their work on reality and coordinate the implementation of policies and measures to promote the development of the private economy.
Xi Jinping emphasized that enterprises are the main entities of operation, and the internal driving force for enterprise development is paramount. Private enterprises and entrepreneurs should be filled with entrepreneurial and patriotic passion, continuously enhance their ideals, cultivate a sense of national identity, think of their roots and progress while being prosperous, promote the spirit of entrepreneurship, focus on strengthening, optimizing, and expanding their enterprises, and firmly become builders of socialism with Chinese characteristics and promoters of Chinese-style modernization. We must unswervingly follow the path of high-quality development, adhere to our main business, strengthen the real economy, enhance independent innovation, transform the development model, continuously improve the quality, efficiency, and core competitiveness of enterprises, and strive to contribute more to promoting technological innovation, cultivating new productive forces, building a modern industrial system, comprehensively advancing rural revitalization, promoting coordinated regional development, and ensuring and improving people's livelihoods. We must improve the corporate governance structure according to the requirements of the modern enterprise system with Chinese characteristics, standardize shareholder behavior, strengthen internal supervision, and establish sound risk prevention mechanisms, continuously improving the use, management, and protection mechanisms for production factors such as labor, talent, knowledge, technology, capital, and data, and pay attention to the cultivation of successors in enterprises. We must adhere to honest and lawful operation, establish correct values and moral views, and promote the healthy development of the private economy through practical actions. We must actively fulfill social responsibilities, actively build harmonious labor relations, ensure ecological and environmental protection, participate in public welfare and charity to the best of our ability, and contribute love to society.
Wang Huning, while presiding over the meeting, stated that General Secretary Xi Jinping's important speech fully affirms the significant achievements of the development of the private economy and its important contributions to the country's economic and social development, emphasizing the need to correctly recognize the opportunities and challenges faced by the development of the private economy, and making comprehensive deployments for promoting the healthy and high-quality development of the private economy in the current and future periods. The speech is lofty in intention, profound in thought, incisive in argument, and rich in connotation; we must earnestly study and comprehend it and resolutely implement it. We must strengthen our confidence in development, enhance our overall awareness, systemic thinking, and rule of law spirit, ensure that all policies are implemented effectively, and strive to create a new situation for the development of the private economy.
Shi Taifeng, Li Shulei, He Lifeng, Wu Zhenglong, and Mu Hong attended the symposium.
Relevant departments of the Central and State organs, responsible comrades of the All-China Federation of Industry and Commerce, and representatives of private enterprise leaders participated in the symposium.
People's Daily (February 18, 2025, Page 01)

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