Encouraged by Xi's words, Chinese private firms vow sound devt, greater social responsibility

A worker arranges newly-produced floorboards at a factory in Benxi, northeast China's Liaoning Province, March 17, 2020. Photo:Xinhua

President Xi Jinping's unswerving support and encouraging words for the country's private businesses have reverberated through the vast private sector, with many firms and entrepreneurs on Tuesday vowing to strive for sound development in line with the country's goal for high-quality development and take on a greater social responsibility of promoting common prosperity.

On Monday, while visiting national political advisors, who were attending the first session of the 14th National Committee of the Chinese People's Political Consultative Conference (CPPCC), Xi stressed that the Communist Party of China (CPC) Central Committee always unswervingly consolidates and develops the public sector, and unswervingly encourages, supports and guides the development of the non-public sector.

Xi has reiterated in many occasions what is widely known as the "two unswervingly," which has also become a crucial part of Xi's thought on the economy, helping private businesses flourish in recent years.

Unswerving support

During his visit and participation in a joint group meeting of national political advisors from the China National Democratic Construction Association and the All-China Federation of Industry and Commerce, Xi urged proper guidance for the healthy and high-quality development of the private sector, according to Xinhua.

Xi said that the CPC Central Committee always believes that private enterprises and entrepreneurs "belong to our own family." Efforts should be made to optimize the environment for private enterprises' development, remove institutional barriers that impede their participation in market competition in a fair manner, protect their property rights and the rights and interests of entrepreneurs in accordance with the law, and ensure the equal treatment of private enterprises and state-owned enterprises, Xi said.

Wang Yu, a member of the National Committee of the CPPCC and chairman of Spring Airlines, was among the national political advisors who were in attendance when Xi, also general secretary of the CPC Central Committee and chairman of the Central Military Commission, visited on Monday afternoon.

"I am very touched! The visit by the general secretary fully demonstrates that the CPC Central Committee attaches great importance to the private economy and earnestly expects the healthy development of private enterprises," Wang told the Global Times on Tuesday.

Wang said that Xi's remarks helped "eliminate any worry among the vast number of private entrepreneurs and set our minds at ease, and greatly boosted our confidence in continuing to overcome difficulties."

This confidence boost was felt by many Chinese private businesses and entrepreneurs across the country.

Sun Dongwei, a deputy to the National People's Congress (NPC) and chairman of Luhua Group, a national key leading enterprise involved in agricultural industrialization, said that he deeply felt the support of the Party and the central government for the private economy.

"Under the strong leadership of the Party, the development environment of private enterprises is getting better and better, and the size of the private economy has also increased significantly," Sun told the Global Times on Tuesday, adding that some leading private enterprises have built international competitiveness.

Over the past decade or so, China's private sector has flourished. The number of private businesses jumped from 10.85 million in 2012 to 44.57 million at the end of 2021, official data showed. The private sector contributes more than 50 percent of national tax revenue, more than 60 percent of GDP, and over 70 percent of technological innovations. It also provides more than 80 percent of urban employment and accounts for more than 90 percent of market entities in China, according to Xinhua.

Behind such sound development of the private sector is the firm support of the CPC Central Committee under the leadership of Xi, who over the years reiterated the "two unswervingly" at many crucial occasions. The "two unswervingly" was written in the reports to the 18th, 19th and 20th CPC National Congresses. It is also a crucial part of Xi Jinping's economic thought.

Greater social responsibility

During the visit on Monday, Xi also hailed the private sector as an important force in the endeavor to realize the two centenary goals and the Chinese Dream of national rejuvenation. Noting that Chinese modernization is the modernization of common prosperity for all, Xi said that both state-owned and private enterprises must shoulder the social responsibility of promoting common prosperity.

Heeding this call, many private businesses and entrepreneurs vowed to achieve sound business development in line with the country's overall development goals and take on greater social responsibilities.

"Listening to the general secretary's remarks, I felt the deep affability," Zhu Xiaokun, an NPC deputy and chairman of high-tech manufacturer Tiangong International Co, told the Global Times, "As a representative of a private enterprise, I feel the great honor as well as the great responsibility."

Zhu said that the company will continue to accelerate scientific and technological innovation and strive for breakthroughs in core technologies that are subject to foreign "strangleholds" and international monopoly.

Many companies announced various business initiatives and proposals that are related to some of the country's top development priorities, including food security and rural revitalization.

Sun of Luhua Group called for vigorous development in the country's peanut production to reduce the country's reliance on imported oil crops. Meanwhile, Wang of Spring Airlines vowed to make new contributions to the country's rural revitalization strategy.

Liu Hanyuan, a deputy to the NPC, vice chairman of the ACFIC and chairman of the Board of Directors of Tongwei Group, told the Global Times that the company, which focuses on green agriculture and energy, will devote itself to the "double green development" strategy to promote high-quality development and contribute to China's "dual carbon" goal.

Gao Dekang, chairman of Bosideng International Holdings Ltd, said that encouraged by support from the top leadership, the company will continue to build its global branding, while also contributing to the country's goal of common prosperity.

"We will take common prosperity as the value goal of corporate social responsibility and take the lead in the fields of stable employment, tax contribution, entrepreneurship and innovation, rural revitalization, public welfare and charity, and ecological civilization," Gao told the Global Times on Tuesday.