Private sector playing key role in growth

China's unswerving support for the private sector will significantly boost confidence and expectations among entrepreneurs, and revitalize the growth of the world's second-largest economy, while motivating private enterprises to play a bigger role in driving technological innovation and industrial upgrades, said economists, industry experts and company executives on the sideline of the ongoing two sessions.

They noted that the country has sent a strong signal that it is dedicated to fostering the healthy and high-quality development of the private sector by rolling out targeted measures to deal with the difficulties and issues faced by private enterprises, and create a fairer and more dynamic business environment.

Highlighting that private enterprises have become the main force in nurturing new quality productive forces, and promoting the development of strategic emerging industries and future-oriented industries, they called for more efforts to further ease market access restrictions, expand financing channels for private enterprises and reduce financing costs, as well as optimize policies on tax and fee reductions.

Their comments came after President Xi Jinping attended a symposium on private enterprises and delivered an important speech in Beijing last month.

During the symposium, Xi, who is also general secretary of the Communist Party of China Central Committee and chairman of the Central Military Commission, said the new journey in the new era has provided abundant new opportunities and greater space for the development of the private sector, and it is a prime time for private enterprises and entrepreneurs to give full play to their capabilities.