Xinhua News Agency, Beijing, August 15 — The 16th issue of the Qiushi Journal to be published on August 15 will carry an important article by Xi Jinping, General Secretary of the Communist Party of China Central Committee, President of the People's Republic of China and Chairman of the Central Military Commission, titled Promoting the Sound and High-Quality Development of the Private Economy.
The article stresses that private enterprises have flourished alongside the great process of reform and opening up. Over the past few decades, the Party's theories and practices regarding the understanding of the status and role of the private economy in the cause of reform and opening up as well as socialist modernization, and the principles and policies of the Party and the state for the development of the private economy, have been consistent and advanced with the times. The Communist Party of China leads the people in developing the socialist market economy, in which the non-public sector is an important component of China's socialist market economy and is protected by the Constitution and laws; the Party and the state uphold and improve the basic socialist economic system, unswervingly consolidating and developing the public sector of the economy, and unswervingly encouraging, supporting and guiding the development of the non-public sector; the Party and the state ensure that economic entities under all forms of ownership have equal access to factors of production in accordance with the law, participate in market competition on a fair footing and receive equal legal protection, so as to promote economic entities under all forms of ownership to draw on each other's strengths and achieve common development, and to promote the healthy development of the non-public sector and the healthy growth of those working in the non-public sector. These basic principles and policies have been incorporated into the system of socialism with Chinese characteristics and are clearly enshrined in the Constitution and the Party Constitution. We will consistently uphold and implement them—they cannot and will not change.
The article points out that on the new journey in the new era, the private economy enjoys broad prospects and great potential. China's private economy has reached a considerable scale and occupies a significant position, with greatly enhanced overall strength, innovation capacity and market competitiveness, laying a solid foundation for promoting its high-quality development. The current political, economic and social environments are all highly conducive to the development of the private economy, and it is the right time for private enterprises and entrepreneurs to fully demonstrate their talents. We must align our thinking and actions with the Central Committee's assessment of the domestic and international situation and its decisions and arrangements for economic work. We must see a bright future and prospects amid difficulties and challenges, maintain strategic focus in development, boost confidence in development, and keep the enterprising spirit of daring to strive and knowing how to win.
The article states that we must earnestly implement policies and measures to promote the development of the private economy. All decisions made by the Central Committee must be resolutely implemented without ambiguity, delay or discount.
First, we must resolutely remove all barriers to equal access to factors of production in accordance with the law and fair participation in market competition. We must grant private enterprises equal opportunities for development and ensure that "access is granted unless explicitly prohibited" takes root. We will continue to open up competitive infrastructure sectors to all types of market entities on an equal footing, and support private enterprises in actively participating in the construction of major national strategies and key security capacity building (the "Two Priorities") and in a new round of large-scale equipment renewal and consumer goods trade-ins (the "Two Renewals"). We will continue to devote great efforts to solving the difficulties and high costs of financing for private enterprises.
Second, we will strive to solve the problem of arrears owed to private enterprises. We will make good use of policies such as new local government special bonds to accelerate the progress of arrears settlement. We will improve laws and regulations and strengthen punishment for dishonesty.
Third, we will effectively protect the legitimate rights and interests of private enterprises and entrepreneurs in accordance with the law. China is a socialist country under the rule of law, and no illegal acts by market entities of any ownership type can evade investigation and punishment. We will carry out targeted overhaul of arbitrary fees, fines, inspections and seizures, and firmly prevent illegal cross-regional law enforcement and law enforcement driven by profit-seeking motives.
Fourth, we will earnestly implement various relief policies. We will enhance policy precision, seek truth from facts, adopt a holistic package of policies and leverage their combined effects.
Fifth, we will further foster a cordial and clean relationship between government and business. "Cordial" and "clean" essentially represent the relationship between dedication and integrity; they are dialectically unified and can fully go hand in hand.
The article notes that private enterprises and entrepreneurs must bravely shoulder the important tasks of the times, dare to act and accomplish goals effectively, embrace passion for entrepreneurship and serving the country, promote the entrepreneurial spirit, wholeheartedly strengthen, improve and expand their enterprises, and firmly act as builders of socialism with Chinese characteristics and promoters of Chinese-style modernization. They must unswervingly follow the path of high-quality development, strengthen independent innovation, transform development models, and continuously improve the quality, efficiency and core competitiveness of enterprises. They should improve corporate governance structures in accordance with the requirements of a modern enterprise system with Chinese characteristics. They must operate with integrity and in accordance with the law, and consciously respect, study, abide by and apply the law. They should actively fulfill social responsibilities, build harmonious labor relations, contribute more to society, and make new and greater contributions to advancing Chinese-style modernization.
