The Chinese mainland's top leader, Xi Jinping, has called for the healthy and high-quality development of the country's private sector. Speaking at a symposium dedicated to private enterprises, Xi delivered a pivotal speech after engaging with representatives of private entrepreneurs.
\"The private sector enjoys broad prospects and great potential on the new journey in the new era. It is a prime time for private enterprises and entrepreneurs to give full play to their capabilities,\" Xi emphasized. He stressed the importance of reaching a consensus and firming up confidence to promote sustainable growth within the private sector.
The symposium was attended by key figures including Li Qiang, the Chinese premier, and Ding Xuexiang, the vice premier. Wang Huning, the chairman of the National Committee of the Chinese People's Political Consultative Conference, presided over the event.
Leading entrepreneurs such as Huawei's Ren Zhengfei, BYD's Wang Chuanfu, New Hope's Liu Yonghao, Will Semiconductor's Yu Renrong, Unitree Robotics' Wang Xingxing, and Xiaomi's Lei Jun shared their insights and recommendations for fostering the development of the private sector.
According to the State Administration for Market Regulation, the number of private business entities in China surpassed 180.86 million by the end of September 2024, accounting for 96.37% of the country's total business entities. Of these, 55.54 million were private companies while over 125.32 million were self-employed businesses.
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Xi Jinping urges healthy, high-quality development of private sector
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