On February 17, a symposium on private enterprises was held in Beijing, attended by Chinese state leaders and delivered important speeches.
1. Background of the meeting
From the point of view of the time, the convening of this symposium has the following background factors: First, the game between China and the United States has intensified. After Trump took office, he has imposed 10% tariffs on China, prepared to impose 25% tariffs on steel and aluminum products, and imposed equivalent tariffs on all countries, which means that the trade war between China and the United States will be further intensified. At the same time, the United States continues to suppress China in the high-tech field, and the Biden administration’s “small courtyard and high wall” strategy continues. China is facing multiple shocks such as tariff war and technology war from the United States. Second, major breakthroughs were made in the innovation of private enterprises. During the Spring Festival, Deepseek was born and Ne Zha 2 advanced at the box office, fully demonstrating the spirit and vitality of private enterprises in innovation. Deepseek’s breakthrough in artificial intelligence, in particular, has been called China’s “Sputnik moment.” In the technological competition with the United States, the role of private enterprises cannot be ignored. Third, private confidence is still weak. Since the implementation of the package of incremental policies last year, social confidence has been effectively boosted, the economy has picked up significantly, and various indicators have improved, but the situation of private enterprises is still not optimistic. By the end of last year, the growth rate of private fixed asset investment was -0.1%, the second consecutive year of negative growth. The share of fixed asset investment fell to 50.1 per cent, the lowest since 2010. Delinquency of accounts, as well as random charges, random fines, random inspections, random seizures and other problems need to be changed.
2. Participating enterprise
In addition, the entrepreneurs who participated in the forum also included the founders of the emerging technology industry, including Wang Xingxing, the founder and CEO of Yushu Technology, who just landed on the Spring Festival Gala of the Year of the snake, Liang Wenfeng, the founder of Magic Square quantification of the big model company (DeepSeek), and Xu Ming, chairman of the private satellite company Galaxy Space. From the perspective of participating enterprises and speaking representatives, it covers semiconductor, new energy vehicles, platform economy, agriculture, food and other fields, reflecting the central government’s special attention to private enterprises in high-tech and people’s livelihood fields.
3. Talking points
The leader’s important speech contains five meanings: First, it emphasizes that the central government’s policies for the private economy are consistent and keep pace with The Times. We will unswervingly ensure that economic entities under all forms of ownership have equal access to factors of production in accordance with the law, participate in fair market competition, and enjoy equal legal protection. Second, we believe that there is a solid foundation for promoting high-quality development of the private economy. Including a strong education and science and technology talent base, complete industrial system and infrastructure system, and huge market potential. The third is to point out that the difficulties and challenges facing the development of the private economy are local, temporary, and can be overcome, and we must see the future, see the bright light, and see the future in the difficulties and challenges, maintain development concentration, enhance development confidence, and maintain the spirit of love and fight to win. Fourth, it requires the solid implementation of policies and measures to promote the development of the private economy. Including equal use of production factors in accordance with the law and fair participation in market competition; Solve the problem of difficult financing and expensive financing; Solve the problem of arrears of private enterprise accounts; Focus on curbing arbitrary charges, fines, inspections, and seizures. Fifth, we will encourage greater internal impetus for enterprise development. Including cultivating national feelings, promoting the entrepreneurial spirit, focusing on becoming stronger, better and bigger enterprises; Strengthen independent innovation, change the mode of development, and constantly improve the quality, efficiency and core competitiveness of enterprises; Improve the corporate governance structure; Adhere to the integrity and law-abiding business; Actively fulfill social responsibilities.
4. Conclusion
At a time when the game between China and the United States is intensifying, the authorities have keenly observed the potential and advantages of private enterprises in scientific and technological innovation, and are also aware of the current difficulties and challenges faced by private enterprises, so there is this symposium. On November 1, 2018, the Central Government held a private enterprise symposium. In his speech, the leaders stressed that “private enterprises and private entrepreneurs are our own people” and “China’s private economy can only be strengthened, not weakened, not only can not” leave “, but also to a broader stage.” That evening, I wrote an editorial for the Economic Information Daily: “Let the vitality of the private economy fully burst out.” I can still remember that moment vividly. In the past six years, due to the influence of various factors, many problems faced by private enterprises have not been reversed. It can be seen that there is still a lot of work to be done between policy intent and policy effect. The key is that the leaders stressed: “earnestly implement the policy measures to promote the development of the private economy.”
Post time: Feb-19-2025