Xi Jinping, general secretary of the Communist Party of China (CPC) Central Committee, on Monday urged efforts to promote the healthy and high-quality development of the country's private sector.

Xi, also Chinese president and chairman of the Central Military Commission, made the remarks when attending a symposium on private enterprises, where he delivered an important speech after listening to representatives of private entrepreneurs.

Xi Jinping, general secretary of the Communist Party of China Central Committee, also Chinese president and chairman of the Central Military Commission, attends a symposium on private enterprises, where he delivers an important speech, in Beijing, capital of China, Feb. 17, 2025. (Xinhua/Xie Huanchi)

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, Xi said.

He urged reaching a consensus and firming up confidence to promote the healthy and high-quality development of the private sector.

Li Qiang, a member of the Standing Committee of the Political Bureau of the CPC Central Committee and Chinese premier, and Ding Xuexiang, a member of the Standing Committee of the Political Bureau of the CPC Central Committee and Chinese vice premier, also attended the symposium.

Wang Huning, a member of the Standing Committee of the Political Bureau of the CPC Central Committee and chairman of the National Committee of the Chinese People's Political Consultative Conference, presided over the symposium.

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 put forward their opinions and advice on the development of the private sector.

Xi said the Party and the country are committed to unswervingly consolidating and developing the public sector and unswervingly encouraging, supporting and guiding the development of the non-public sector.

The Party and the country ensure that economic entities under all forms of ownership have equal access to factors of production in accordance with the law, compete in the market on an equal footing, and are protected by the law as equals, he said.

The new journey in the new era has provided abundant new opportunities and greater space for the development of the private sector, Xi said. He stressed that the current difficulties and challenges facing the private sector can be overcome and called for confidence in the future.

Xi urged resolutely dismantling obstacles that prevent enterprises from accessing production factors equally and competing in the market fairly, further opening the competitive areas of infrastructure to various business entities in a fair manner, and continuously making solid efforts to address the difficulties faced by private enterprises in obtaining affordable financing.

He also stressed the effective protection of the lawful rights and interests of private enterprises and entrepreneurs in accordance with the law.

Private enterprises and entrepreneurs should embrace entrepreneurship and patriotism, focus on strengthening, optimizing, and expanding their businesses, and be firm contributors to building socialism with Chinese characteristics and advancing Chinese modernization, Xi said.

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