BEIJING, March 7, 2023 /PRNewswire/ -- President Xi Jinping on Monday stressed efforts to guide healthy and high-quality development of the private sector of the economy.

Xi heard the comments and suggestions while joining a panel discussion of 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) underway in Beijing.

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.

The CPC Central Committee always maintains that the non-public sector's status and functions in the country's economic and social development have not changed, the principle and policies to unswervingly encourage, support and guide the development of the sector have not changed, and the principle and policies to provide a sound environment and more opportunities to the sector have not changed, Xi said.

Xi urged efforts to provide an enabling environment for private enterprises, remove the institutional barriers inhibiting their fair participation in market competition, and protect their property rights and the lawful rights and interests of entrepreneurs in accordance with law.

Private enterprises should play an important role in stabilizing employment and promoting income growth, Xi said.

He also urged solid efforts to foster a cordial and clean relationship between the government and businesses.

Xi called on competent private enterprises to strengthen independent innovation and play a greater role in building up self-reliance and strength in science and technology and promoting the industrial application of scientific and technological advances.

Xi stressed efforts to regulate and guide healthy development of all types of capital in accordance with law, effectively prevent and defuse systemic financial risks, and create a favorable environment for enterprises under all forms of ownership to compete and grow together.

He pointed out a Chinese path to modernization pursues common prosperity for all, adding that both state-owned enterprises and private enterprises are important forces to promote common prosperity, and must shoulder the social responsibility of promoting common prosperity.

Private enterprises should actively build harmonious labor relations, promote the building of a community of interests for all employees, and make the achievements of enterprise development more equitable and benefit all employees, Xi said.

Link: https://youtu.be/M2ogZpI60Ow