Xi holds meeting with private entrepreneurs, bolstering private sector confidence
Chinese President Xi Jinping participated in a symposium focused on private enterprises, where he spoke after hearing from representatives of various private entrepreneurs. Attendees included notable figures 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.
TroibNews 
A highly awaited symposium focused on private enterprises took place in Beijing on Monday. During the event, Chinese President Xi Jinping delivered a keynote speech, having first listened to representatives from notable private companies including 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.
"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," President Xi stated.
**Unwavering Support**
Throughout the symposium, President Xi reaffirmed his steadfast dedication to the private sector. He highlighted that fundamental policies aimed at fostering the private economy have been integrated into the national institutional framework, asserting that "this cannot and will not change."
Xi called for the elimination of barriers that hinder enterprises from gaining equal access to production factors and competing fairly in the market. He emphasized the need to open competitive sectors of infrastructure to various business entities fairly and to persistently tackle the challenges private enterprises face in securing affordable financing.
Additionally, he highlighted the importance of protecting the legal rights and interests of private businesses and entrepreneurs in accordance with the law.
In a move to enhance support for the private economy, China has established a bureau under the National Development and Reform Commission (NDRC) dedicated to promoting its development.
During the Central Economic Work Conference held in December, Chinese policymakers reiterated their commitment to supporting private enterprises while outlining economic strategies for 2025. Key initiatives include implementing a law to bolster the private sector, launching a campaign to standardize enterprise law enforcement, and developing guidelines for creating a unified national market.
The NDRC on Tuesday committed to further eliminating market access obstacles and timely revising the market access negative list for private enterprises, aiming to encourage more engagement from the private sector in significant national projects and programs.
**High-Quality Development**
President Xi also underlined the significant contribution of private enterprises to advancing China's overarching objectives in technological innovation, rural revitalization, and enhancing public well-being.
He urged entrepreneurs to prioritize high-quality development, concentrate on their core businesses, enhance their innovative capabilities, and boost their core competitiveness.
Foreign media have noted the substantial participation of major tech firms like Huawei, BYD, and Unitree Robotics at the symposium.
The private sector is essential in propelling China’s innovation efforts, constituting more than 92 percent of the nation’s high-tech enterprises. Additionally, it accounts for over 70 percent of China’s technological innovation successes. Among the "little giant" firms—recognized for their specialized markets, advanced technologies, and significant potential—private enterprises represent over 80 percent.
From the emergence of the "new trio" spurring global green transformation and e-commerce, to the impressive successes of DeepSeek and robotics, as well as international recognition for titles like "Black Myth: Wukong" and "Ne Zha 2," Chinese private enterprises have been at the forefront, utilizing technology and innovation to advance the country in the global marketplace.
Aarav Patel contributed to this report for TROIB News
"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," President Xi stated.
**Unwavering Support**
Throughout the symposium, President Xi reaffirmed his steadfast dedication to the private sector. He highlighted that fundamental policies aimed at fostering the private economy have been integrated into the national institutional framework, asserting that "this cannot and will not change."
Xi called for the elimination of barriers that hinder enterprises from gaining equal access to production factors and competing fairly in the market. He emphasized the need to open competitive sectors of infrastructure to various business entities fairly and to persistently tackle the challenges private enterprises face in securing affordable financing.
Additionally, he highlighted the importance of protecting the legal rights and interests of private businesses and entrepreneurs in accordance with the law.
In a move to enhance support for the private economy, China has established a bureau under the National Development and Reform Commission (NDRC) dedicated to promoting its development.
During the Central Economic Work Conference held in December, Chinese policymakers reiterated their commitment to supporting private enterprises while outlining economic strategies for 2025. Key initiatives include implementing a law to bolster the private sector, launching a campaign to standardize enterprise law enforcement, and developing guidelines for creating a unified national market.
The NDRC on Tuesday committed to further eliminating market access obstacles and timely revising the market access negative list for private enterprises, aiming to encourage more engagement from the private sector in significant national projects and programs.
**High-Quality Development**
President Xi also underlined the significant contribution of private enterprises to advancing China's overarching objectives in technological innovation, rural revitalization, and enhancing public well-being.
He urged entrepreneurs to prioritize high-quality development, concentrate on their core businesses, enhance their innovative capabilities, and boost their core competitiveness.
Foreign media have noted the substantial participation of major tech firms like Huawei, BYD, and Unitree Robotics at the symposium.
The private sector is essential in propelling China’s innovation efforts, constituting more than 92 percent of the nation’s high-tech enterprises. Additionally, it accounts for over 70 percent of China’s technological innovation successes. Among the "little giant" firms—recognized for their specialized markets, advanced technologies, and significant potential—private enterprises represent over 80 percent.
From the emergence of the "new trio" spurring global green transformation and e-commerce, to the impressive successes of DeepSeek and robotics, as well as international recognition for titles like "Black Myth: Wukong" and "Ne Zha 2," Chinese private enterprises have been at the forefront, utilizing technology and innovation to advance the country in the global marketplace.
Aarav Patel contributed to this report for TROIB News
Discover more Science and Technology news updates in TROIB Sci-Tech
