Episode Details

China's latest push to bolster the growth of its private economy is expected to shore up business confidence, stabilize market expectations and revitalize the growth of the world's second-largest economy amid challenges and external uncertainties, said experts and company executives.

They noted that the country has sent a clear signal that it is dedicated to boosting 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 an important speech, after listening to representatives of private entrepreneurs.

Zhou Maohua, an analyst at China Everbright Bank, said: "The private sector is a vital force in advancing Chinese modernization, and it plays an increasingly significant role in stabilizing 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 stabilizing the expectations of private enterprises and entrepreneurs, and this will further consolidate the economic recovery trend.

He noted that the country's ongoing efforts to promote the healthy 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 breakthroughs, as well as further stimulating the vitality of the private economy, he added.

Liu Dian, a researcher at Fudan University's China Institute, said President 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.

He said it is advisable for the government to guide financial institutions to innovate financial products and services, enhance support for boosting technological innovations by private enterprises, encourage private companies' collaboration with universities and research institutions, and accelerate the legislative process for a law to promote development of the private economy.

Listen Now