“The private sector is a vital force in advancing Chinese modernisation," says China Everbright Bank analyst Zhou Maohua. — China Daily
BEIJING: China’s latest push to bolster the growth of its private economy is expected to shore up business confidence, stabilise market expectations and revitalise the growth of the world’s second-largest economy amid challenges and external uncertainties, say experts and company executives.
They noted that the country has sent a clear signal that it is determined to boost the high quality development of the private economy through rolling out targeted measures to deal with the difficulties and issues faced by private enterprises.
Their comments came as President Xi Jinping attended a symposium on Monday on private enterprises in Beijing and delivered a speech, after listening to entrepreneurs.
Zhou Maohua, an analyst at China Everbright Bank, said: “The private sector is a vital force in advancing Chinese modernisation, and it plays an increasingly significant role in stabilising economic growth, expanding employment and bolstering technological innovation.”
Zhou said that a series of supportive measures, which have been introduced to tackle prominent problems facing private enterprises and to improve the business environment, are crucial for boosting confidence and stabilising the expectations of private enterprises.
He noted that the country’s efforts to promote the development of the private sector will be conducive to creating a more stable, transparent and predictable business environment, motivating private enterprises to beef up investment in research and development, and achieving technological breakthrough.
Liu Dian, a researcher at Fudan University’s China Institute, said Xi’s meeting with private entrepreneurs sent a strong signal to the outside world that China attaches great significance to the private economy and is committed to bolstering its high-quality development. — China Daily/ANN
