"Eat the reassurance pill and seek development with ease!" —— General Secretary Xi Jinping's Important Speech at the Seminar on Private Enterprises

Time : 2018-11-02

On the morning of November 1, General Secretary Xi Jinping hosted a seminar on private enterprises in Beijing and delivered an important speech. Xi emphasized that all private enterprises and entrepreneurs can take the reassurance pill and seek development without wavering in encouraging and guiding the development of non-public economy. China's private economy can only grow, not weaken, but also move towards a broader stage. For details, please see the full text of the speech.

Xi Jinping's Speech at the Symposium on Private Enterprises (Full Text)

(1 November 2018)

Xi Jinping

Hello everyone! Today, we are holding this symposium to listen to your opinions and suggestions on the economic development situation and the development of private economy. First of all, I would like to extend my sincere greetings to all private entrepreneurs present here and to the vast number of private entrepreneurs throughout the country.

Just now, several representatives of private enterprises made speeches and put forward many valuable opinions and suggestions, which should be carefully studied and absorbed by relevant departments. Next, I would like to make a few comments in connection with your speeches and concerns.

China's non-public economy has developed under the guidance of the Party's principles and policies since the reform and opening up. The basic economic system with public ownership as the main body and multi-ownership economy developing together is an important part of the socialist system with Chinese characteristics and an inevitable requirement for perfecting the socialist market economic system. After the Third Plenary Session of the Eleventh Central Committee of the Communist Party of China, our Party broke away from the traditional concept of ownership and opened the door to the development of non-public economy. In 1980, Zhang Huamei of Wenzhou received her first business license for individual businesses. By 1987, 5.69 million people had been employed in various industries, such as individual industry and Commerce in cities and towns, and a large number of private enterprises had flourished. After Comrade Deng Xiaoping's Southern Talk was published in 1992, a new upsurge of entrepreneurship and development of private economy arose. Many well-known large-scale private enterprises started in this period.

The 15th National Congress of the Communist Party of China established "public ownership as the main body and multi-ownership economy developing together" as the basic economic system of our country, and clearly put forward that "non-public ownership economy is an important part of our socialist market economy". The 16th National Congress of the Communist Party of China put forward the idea of "unswervingly consolidating and developing the public ownership economy" and "unswervingly encouraging, supporting and guiding the development of the non-public ownership economy". The Eighteenth National Congress of the CPC further proposed that we should unswervingly encourage, support and guide the development of non-public economy, ensure that all kinds of ownership economies use production factors equally according to law, participate in market competition fairly and receive equal legal protection.

Since the Eighteenth National Congress of the CPC, I have repeatedly reiterated my adherence to the basic economic system and to the "two unshakable". The Third Plenary Session of the Eighteenth Central Committee of the Communist Party of China pointed out that both public and non-public economy are important components of the socialist market economy and are important foundations for China's economic and social development; the property rights of public economy are inviolable, and those of non-public economy are inviolable; the state protects all kinds of economic property of ownership. We should adhere to equal rights, equal opportunities and equal rules, abolish unreasonable provisions on various forms of non-public economy, eliminate hidden barriers and stimulate the vitality and creativity of non-public economy. At the Fourth Plenary Session of the Eighteenth Central Committee of the CPC, it was proposed that the system of property rights protection with equity as its core principle should be improved, the protection of property rights of various ownership economic organizations and natural persons should be strengthened, and the provisions of laws and regulations that violate equity should be cleared up. The Fifth Plenary Session of the Eighteenth Central Committee of the CPC emphasized that "private enterprises should be encouraged to enter more fields according to law, and non-state-owned capital should be introduced to participate in the reform of state-owned enterprises so as to better stimulate the vitality and creativity of non-public economy". The Nineteenth National Congress of the Communist Party of China has written "two unshakable" into the basic strategy of adhering to and developing socialism with Chinese characteristics in the new era, which has been further determined as a major policy of the Party and the state.

On March 4, 2016, when I participated in the joint meeting of members of the Civil Construction and Industry Federation at the Fourth Session of the Twelfth CPPCC National Committee, I made a speech on adhering to the basic economic system of our country and expounded the principles and policies of the Party and the state in dealing with the private economy. The purpose of this meeting today is to gather wisdom, firm confidence and concerted efforts to maintain and enhance the good momentum of the development of China's private economy.

On October 20, this year, I wrote back to the privately-owned entrepreneurs who were commended in the action of "Wancun Bang by Ten Thousand Enterprises" on the development of private economy, emphasizing that in the past 40 years of reform and opening up, private enterprises have developed vigorously, and private economy has grown from small to large and from weak to strong, playing a role in stabilizing growth, promoting innovation, increasing employment and improving people's livelihood. It has played an important role in promoting economic and social development. Supporting the development of private enterprises is the consistent policy of the CPC Central Committee, which will not be shaken at all.

1. Fully affirm the important position and role of China's private economy

This year marks the 40th anniversary of reform and opening up. Over the past 40 years, China's private economy has grown from small to large, from weak to strong, and has been growing steadily. By the end of 2017, there were more than 27 million private enterprises, more than 65 million individual businesses and more than 165 trillion registered capital. Generally speaking, private economy has the characteristics of "May 6789". It contributes more than 50% of tax revenue, 60% of GDP, 70% of technological innovation achievements, 80% of urban labor employment and 90% of enterprises. Among the top 500 enterprises in the world, the number of private enterprises in China increased from 1 in 2010 to 28 in 2018. China's private economy has become an indispensable force to promote China's development. It has become the main field of entrepreneurship and employment, an important subject of technological innovation and an important source of national tax revenue. It has played an important role in the development of China's socialist market economy, the transformation of government functions, the transfer of surplus rural labor force and the development of international market. Effect. For a long time, the vast number of private entrepreneurs have organized and led millions of workers to work hard, pioneer arduously and innovate continuously with the innovative consciousness and perseverance spirit of daring to be the first. China's economic development can create a miracle in China, the private economy is an indispensable contribution!

Our Party's view on adhering to the basic economic system is clear and consistent, and has never wavered. China's public ownership economy has been formed in the course of national development for a long time. It has accumulated a large amount of wealth. It is the common wealth of all the people. We must keep, use and develop it well, keep and appreciate its value continuously. We must never let a large number of state-owned assets idle, lost and wasted. We are promoting the reform and development of state-owned enterprises, strengthening the supervision of state-owned assets and punishing corruption in the field of state-owned assets for this purpose. At the same time, we emphasize that consolidating and developing the public ownership economy is not antagonistic to encouraging, supporting and guiding the development of non-public ownership economy, but an organic unity. Public ownership economy and non-public ownership economy should complement each other and complement each other, rather than mutually exclusive and offset each other.

For some time, some people in the society have made some negative and doubtful remarks about the private economy. For example, some people put forward the so-called "private economy departure theory", saying that the private economy has completed its mission and should withdraw from the historical stage; some people put forward the so-called "new public-private partnership theory", misinterpreting the present mixed ownership reform as a new round of "public-private partnership"; some people said that strengthening Party building and trade union work in Enterprises is for the people. Business control, and so on. These statements are totally wrong and do not conform to the Party's general policy.

Here, I would like to emphasize once again that the status and role of non-public economy in China's economic and social development has not changed! We have not wavered in encouraging, supporting and guiding the development of non-public economy. We are committed to creating a good environment for the development of non-public economy and providing more opportunities. The basic economic system of our country has been written into the Constitution and the Party Constitution, which is unchangeable and unchangeable. Anything that negates, doubts or shakes our basic economic system is not in line with the Party's and state policies, and we should not listen to or believe it. All private enterprises and entrepreneurs can eat the reassurance pill and seek development with ease.

In short, the basic economic system is a system that we must adhere to for a long time. Private economy is the internal factor of our economic system, and private enterprises and entrepreneurs are our own people. Private economy is an important achievement of the development of socialist market economy, an important force to promote the development of socialist market economy, an important subject to promote supply-side structural reform, promote high-quality development, and build a modern economic system. It is also our party's long-term ruling and unity to lead the people of the whole country to realize the "two one" The goal of "100 years" and the important force of the great rejuvenation of the Chinese dream by the Chinese nation. In the new journey of building a well-off society in an all-round way and building a socialist modern country in an all-round way, China's private economy can only grow and not weaken, not only can it not "leave the field", but also go to a broader stage.

2. Correctly Understanding the Difficulties and Problems in the Development of Private Economy

Recently, some private enterprises encounter many difficulties and problems in their operation and development. Some private entrepreneurs describe them as encountering "three mountains": the iceberg of the market, the mountain of financing and the volcano of transformation. The causes of these difficulties and problems are multifaceted. They are the result of the confrontation of multiple contradictions such as external and internal factors, objective and subjective reasons.

One is the result of changes in the international economic environment. Over the past few years, risks have accumulated in the process of global economic recovery, and protectionism and unilateralism have risen significantly, which have brought about many adverse effects on China's economy and market expectations. Private enterprises account for 45% of China's total exports. Some private export enterprises will inevitably be affected. Private enterprises supporting export enterprises or in the industrial chain will also be affected.

The second is the result of the transition of China's economy from the stage of high-speed growth to the stage of high-quality development. At present, we are in the key period of transforming the development mode, optimizing the economic structure and transforming the growth power. The speed of economic expansion will slow down. However, the overall upgrading of consumption structure and the rapid adjustment of demand structure put forward higher requirements for the quality and level of supply, which will inevitably bring transformation and upgrading pressure to enterprises. In the process of structural adjustment, the industry concentration will generally rise, and the superior enterprises will win, which is the normal result of the competition of the survival of the fittest in the market. Under such a complex background, some private enterprises are inevitably confronted with difficulties and problems, which are the long-term adjustment pressure brought by objective environmental changes. For the requirement of high quality development, both private enterprises and state-owned enterprises need to adapt to it step by step.

Third, the result of inadequate policy implementation. In recent years, we have introduced many policies and measures to support the development of private economy, but many of them are not well implemented and ineffective. Some departments and local governments do not have a proper understanding of the major policies and principles of encouraging, supporting and guiding the development of private enterprises by the Party and the state. There are undesirable policy deviations in their work, including equal protection of property rights, equal participation in market competition and equal use of factors of production.很大差距。有些政策制定過程中前期調研不夠,沒有充分聽取企業意見,對政策實際影響考慮不周,沒有給企業留出必要的適應調整期。有些政策相互不協調,政策效應同向疊加,或者是工作方式簡單,導致一些初衷是好的政策產生了相反的作用。比如,在防范化解金融風險過程中,有的金融機構對民營企業惜貸不敢貸甚至直接抽貸斷貸,造成企業流動性困難甚至停業;在“營改增”過程中,沒有充分考慮規范征管給一些要求抵扣的小微企業帶來的稅負增加;在完善社保繳費征收過程中,沒有充分考慮征管機制變化過程中企業的適應程度和帶來的預期緊縮效應。對這些問題,要根據實際情況加以解決,為民營企業發展營造良好環境。

















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