BUSINESS China commits to unleashing the vitality of the private economy

BUSINESS

China commits to unleashing the vitality of the private economy

By Zhu Hongren | People's Daily app

10:47, January 24, 2019

China’s economic growth is undergoing a transition in the context of the emergence of new demands in new markets. To achieve high-quality growth, the vitality of the private economy will be further unleashed.

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File photos: VCG

In terms of the number of enterprises, income, and profits, the proportion of private enterprises in China's top 500 is increasing year-on-year.

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Figures: People's Daily app

In 2018, there were 237 private enterprises among the top 500 Chinese enterprises. These companies’ incomes accounted for 28.48 percent among the top 500 in the country and their profits reached 29.77 percent.

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A healthy competition between state-owned and privately-owned large enterprises and their development has been taking shape.

Moving forward, China will develop more supportive policies to vigorously create a fair play environment and enough market space for the development of private enterprises.

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From the perspective of the social environment, enterprise associations are supposed to promptly reflect voices from private enterprises to relevant departments, to hone a better business environment for the development of the private economy, to guarantee the legitimate operation.

China's central bank launched the direct interium leading with targeted medium-term lending facility terms for small and micro enterprises in the private sector in the first quarter of this year on Wednesday.

(Compiled by Dong Feng)

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