Hong Kong Bauhinia Magazine:

As a robust pillar to underpin continuously sound economic growth, the private economy is an indispensable foundation for high-quality development. What measures will the NDRC take in the new year to better motivate its growth? Thank you.

Yuan Da:

Thank you for your question. Supporting the development of the private economy has been the consistent policy of the CPC Central Committee. The NDRC earnestly implements the decisions and arrangements of the CPC Central Committee and the State Council, continuously promoting the development and growth of the private economy. On the first working day of this year, which was Jan. 2, the NDRC held a conference in the city of Jinjiang, Fujian province, to promote the high-quality development of the private economy by showcasing the "Jinjiang Experience" in innovation and development. During the conference, the national financing credit service platform was launched, and a platform for promoting projects to private capital nationwide was presented. Relevant departments and regions also put forward specific measures to promote the development of the private economy, encouraging and supporting private enterprises to have firm confidence and make progress. The NDRC continues to strengthen communication and exchange mechanisms with private enterprises. On Jan. 9, Mr. Zheng presided over another symposium with private entrepreneurs, carefully listening to their suggestions and demands, and continuously working to address the practical difficulties raised by private enterprises. Next, the NDRC, together with relevant parties, will take more pragmatic measures, continuously improve the development environment for the private economy, effectively address the development difficulties of private enterprises, boost their confidence, and make sure that they feel the benefits. The focus will be on four key areas.

First, we will continuously strengthen the institutional and legal safeguards for the development of the private economy. We will accelerate the legislative process of the Promotion of the Private Economy Law, establish an institutional guarantee system to promote the development of the private economy, and ensure equal treatment of state-owned and private enterprises in terms of institutions and laws. This includes promoting the equal use of production factors, fair participation in market competition and equal legal protection for all types of ownership. We will fully leverage the role of the rule of law in establishing a solid foundation, stabilizing expectations and ensuring long-term benefits.

Second, we will rigorously implement and execute various policies to promote the development of the private economy. We will improve the information dissemination mechanism for private enterprises, increase project promotion efforts, and encourage and attract more private capital to participate in major national projects and projects aimed at addressing shortcomings. We will support private enterprises in carrying out core technology research in key fields, and collaborate with relevant parties to cultivate leading private technology enterprises in key industries, small and medium-sized enterprises (SMEs) that use special and sophisticated technologies to produce novel and unique products, and characteristic industrial clusters with strong innovation capabilities among SMEs. We will support private enterprises in participating in major strategies such as rural revitalization, regional coordinated development, and new urbanization, as well as deeply engaging in high-quality joint construction of the Belt and Road Initiative (BRI). We will strengthen the consistency evaluation of policies related to the development of the private economy.

Third, we will continue to ensure smooth channels for private enterprises to voice their concerns and provide solutions to their problems. We will continuously improve the system of monitoring indicators for the private economy and strengthen comprehensive analysis of the development situation of the private economy. We will improve the multi-level mechanism for regular communication and exchange with private enterprises, facilitating smooth communication channels between the government and enterprises. We will continue to promptly identify issues that hinder the development of the private economy, both on an individual case basis and in a broader context, and strive to solve one specific category of problems, benefit a number of enterprises and support an entire industry when addressing issues on an individual case basis. We are genuinely committed to addressing the concerns and difficulties faced by private enterprises and entrepreneurs.

Fourth, we will actively create a favorable atmosphere for promoting the development of the private economy. We will strengthen coordination and collaboration among various parties, and consolidate policy and operational forces that drive the high-quality development of the private economy. We will summarize and promote good experiences and practices from different regions in promoting the development of the private economy. We will study and formulate policy measures that can be replicated and scaled, facilitating mutual learning and mutual reference among different regions. We will showcase a group of exemplary private entrepreneurs who are bold, innovative and actively engaged in reforms. We will nurture and promote an entrepreneurial spirit, continuously fostering an environment that creates a correct understanding, full respect and active concern for the development of private enterprises. Thank you.