Aid to private businesses pledged

Chinese President Xi Jinping, also general secretary of the Communist Party of China (CPC) Central Committee and chairman of the Central Military Commission, presides over a symposium on private enterprises at the Great Hall of the People in Beijing, capital of China, on Nov 1, 2018. [Photo/Xinhua]

The Party’s stance is clear and consistent on upholding its basic economic system, which has already been enshrined in the country’s Constitution and the Party’s Constitution, Xi said.

He added that the strengthening of the public sector does not contradict support for the private sector.

All private companies and private businesspeople should focus on the development of their businesses without doubts or anxiety, Xi said.

Xi said the problems of some private firms in such areas as market, finance and transition are caused by multiple factors, and these problems will be resolved in the process of their development.

It’s natural that China, which is in the process of development, comes across problems such as rising uncertainties in economic development, increasing pressure from economic slowdowns and more difficulties for businesses, he said, adding that China has great potential from its huge market and the rising middle class.