Opinion | Xi can’t ignore private enterprise anymore
6 years, 4 months ago

Opinion | Xi can’t ignore private enterprise anymore

Live Mint  

After more than five years in power, Xi Jinping has constructed a singular political persona: of a leader who places the Communist Party and its authority above all, on top of the state, the economy and military. For many Chinese entrepreneurs and their supporters in the bureaucracy and think tanks, Xi’s high-profile tour of China’s state-dominated rust belt was a worrisome signal, compounding an already darkening outlook for business. Xi spent decades in top party posts in Fujian and Zhejiang, two coastal provinces near Shanghai that have long been powerhouses of the Chinese private sector. Party-building inside private companies isn’t just a symbolic exercise, he said in early 2018: “They should genuinely embrace the party’s concepts and put the party in their hearts.” At least one entrepreneur may have taken Xi’s tough line to heart. On top of politics, a cascade of factors has been squeezing Chinese private businesses and, by extension, the kind of growth that Xi needs to maintain the party’s firm grip on power.

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History of this topic

Private sector calls for strengthened interdepartmental coordination
4 weeks, 1 day ago

Private sector calls for strengthened interdepartmental coordination

China Daily  

By Wu Yixue | China Daily | Updated: 2025-03-04 07:32 Headquarters of the People's Bank of China, the central bank, is pictured in Beijing, China. The People's Bank of China and multiple departments recently held a joint meeting to come up with specific measures to support the high-quality development of private enterprises. The meeting stressed that policy coordination and interaction …

Xi urges boost for private sector
1 month, 1 week ago

Xi urges boost for private sector

China Daily  

President Xi Jinping shakes hands with Ren Zhengfei, founder and CEO of tech giant Huawei Technologies, at a symposium on private enterprises on Monday in Beijing. Xi, who is also general secretary of the Communist Party of China Central Committee and chairman of the Central Military Commission, made the remarks on Monday in Beijing at a symposium on private enterprises. …

Xi urges boost for private sector
1 month, 1 week ago

Xi urges boost for private sector

China Daily  

President Xi Jinping shakes hands with Ren Zhengfei, founder and CEO of tech giant Huawei Technologies, at a symposium on private enterprises on Monday in Beijing. Xi, who is also general secretary of the Communist Party of China Central Committee and chairman of the Central Military Commission, made the remarks on Monday in Beijing at a symposium on private enterprises. …

Symposium injects confidence in private sector
1 month, 2 weeks ago

Symposium injects confidence in private sector

China Daily  

Humanoids of Unitree Robotics at the World Robot Conference in Beijing in August. CHINA DAILY A symposium on private enterprises, where President Xi Jinping called for efforts to promote the healthy and high-quality development of the private sector, was held on Monday. Amid global economic uncertainties and technological transformation, the agenda of the symposium not only reaffirmed China's commitment to …

Symposium injects confidence in private sector
1 month, 2 weeks ago

Symposium injects confidence in private sector

China Daily  

Humanoids of Unitree Robotics at the World Robot Conference in Beijing in August. CHINA DAILY A symposium on private enterprises, where President Xi Jinping called for efforts to promote the healthy and high-quality development of the private sector, was held on Monday. Amid global economic uncertainties and technological transformation, the agenda of the symposium not only reaffirmed China's commitment to …

Unleash potential of private sector to promote industrial transformation
1 month, 2 weeks ago

Unleash potential of private sector to promote industrial transformation

China Daily  

High-rises dominate the skyline on both sides of the Huangpu River in Shanghai. From Black Myth: Wukong, China's first triple A-rated video game, to AI app DeepSeek, that has triggered a tsunami in the global AI domain, to the creation of humanoid robots that perform the popular Yangko dance, China's private enterprises have displayed their strength in innovation and become …

Unleash your potential, Xi tells Jack Ma, Chinese business leaders to shore up economy
1 month, 2 weeks ago

Unleash your potential, Xi tells Jack Ma, Chinese business leaders to shore up economy

Live Mint  

Beijing, Feb 17 Chinese President Xi Jinping on Monday asked business leaders to unleash their talents in a rare meeting with billionaires including Jack Ma, founder of e-commerce giant Alibaba, in a bid to shore up sagging business confidence and reverse economic slowdown. Ma, who had an uneasy relationship with the ruling Communist Party of China and went on self-exile …

China’s Xi hosts top tech bosses, Alibaba co-founder Jack Ma spotted in attendance
1 month, 2 weeks ago

China’s Xi hosts top tech bosses, Alibaba co-founder Jack Ma spotted in attendance

CNN  

Hong Kong CNN — Chinese leader Xi Jinping hosted Alibaba co-founder Jack Ma and the country’s top tech executives in Beijing on Monday, in a meeting that signals officials could be steering the country in a more business-friendly direction after a yearslong regulatory crackdown. Its success has also brought optimism to China’s tech sector, which is still recovering after a …

Xi urges healthy, high-quality development of private sector
1 month, 2 weeks ago

Xi urges healthy, high-quality development of private sector

China Daily  

Xi Jinping, general secretary of the Communist Party of China Central Committee, also Chinese president and chairman of the Central Military Commission, attends a symposium on private enterprises, where he delivers an important speech, in Beijing, Feb 17, 2025. BEIJING -- Xi Jinping, general secretary of the Communist Party of China Central Committee, on Monday urged efforts to promote the …

Xi urges healthy, high-quality development of private sector
1 month, 2 weeks ago

Xi urges healthy, high-quality development of private sector

China Daily  

Xi Jinping, general secretary of the Communist Party of China Central Committee, also Chinese president and chairman of the Central Military Commission, attends a symposium on private enterprises, where he delivers an important speech, in Beijing, Feb 17, 2025. Wang Huning, a member of the Standing Committee of the Political Bureau of the CPC Central Committee and chairman of the …

Xi urges healthy, high-quality development of private sector
1 month, 2 weeks ago

Xi urges healthy, high-quality development of private sector

China Daily  

Xi Jinping, general secretary of the Communist Party of China Central Committee, also Chinese president and chairman of the Central Military Commission, attends a symposium on private enterprises, where he delivers an important speech, in Beijing, Feb 17, 2025. BEIJING -- Xi Jinping, general secretary of the Communist Party of China Central Committee, on Monday urged efforts to promote the …

Private firms primed as economic drivers
3 months, 2 weeks ago

Private firms primed as economic drivers

China Daily  

A view of Tencent's booth during an expo in Beijing. Reflecting on how fiscal and monetary policies have also strengthened market confidence, Zhang called for more efforts to seize opportunities and accelerate the cultivation and growth of new quality productive forces, including new energy. With steadfast confidence in China's economic future, we remain committed to action, innovation and driving progress, …

Fertile soil for private companies to flourish
4 months, 3 weeks ago

Fertile soil for private companies to flourish

China Daily  

Business operators have a special day to celebrate annually in Qingdao, Shandong province. During this year's event, the 2024 list of the top 100 Qingdao-based businesses and the 2023 list of demonstration enterprises for corporate social responsibility in Qingdao were released, signifying the local economy's upward momentum, leading industry players' growing strength and local companies' rising CSR awareness, organizers said. …

Fertile soil for private companies to flourish
4 months, 3 weeks ago

Fertile soil for private companies to flourish

China Daily  

Business operators have a special day to celebrate annually in Qingdao, Shandong province. During this year's event, the 2024 list of the top 100 Qingdao-based businesses and the 2023 list of demonstration enterprises for corporate social responsibility in Qingdao were released, signifying the local economy's upward momentum, leading industry players' growing strength and local companies' rising CSR awareness, organizers said. …

Number of private business entities in China surges over 4-fold in a decade: official data
4 months, 3 weeks ago

Number of private business entities in China surges over 4-fold in a decade: official data

China Daily  

A view of CBD area in Beijing on June 20, 2023. The number of private business entities in China reached approximately 1.81 trillion by the end of September, accounting for 96.37 percent of the country's total business entities and marking a more than fourfold increase over the past decade, the Xinhua News Agency reported on Wednesday. According to data released …

Overwhelming majority of business entities in China from private sector
4 months, 3 weeks ago

Overwhelming majority of business entities in China from private sector

China Daily  

A view of CBD area in Beijing on June 20, 2023. BEIJING - The number of private business entities in China had exceeded 180.86 million by the end of September 2024, accounting for 96.37 percent of the country's total business entities, the State Administration for Market Regulation said Wednesday. A large number of private business entities are engaged in the …

Private firms getting more policy boost
7 months, 2 weeks ago

Private firms getting more policy boost

China Daily  

The Hangzhou-Taizhou High-Speed Railway in Zhejiang province, China's first high-speed railway controlled by private capital, has proved to be a milestone in the Chinese government's efforts to attract private funding to key infrastructure construction and local transportation development. Noting that some private enterprises have been facing mounting pressures, such as rising production costs and financing difficulties, Zhou said, "It is …

Private firms getting more policy boost
7 months, 2 weeks ago

Private firms getting more policy boost

China Daily  

Workers lay the track of the Hangzhou-Shaoxing-Taizhou high-speed railway in Wenling, East China's Zhejiang province, on June 22, 2021. Noting that some private enterprises have been facing mounting pressures, such as rising production costs and financing difficulties, Zhou said, "It is important to encourage financial institutions to step up support for micro, small and medium-sized enterprises, deepen reform to eliminate …

Private firms getting more policy boost
7 months, 2 weeks ago

Private firms getting more policy boost

China Daily  

Workers lay the track of the Hangzhou-Shaoxing-Taizhou high-speed railway in Wenling, East China's Zhejiang province, on June 22, 2021. Noting that some private enterprises have been facing mounting pressures, such as rising production costs and financing difficulties, Zhou said, "It is important to encourage financial institutions to step up support for micro, small and medium-sized enterprises, deepen reform to eliminate …

Fresh impetus for China's private sector
8 months ago

Fresh impetus for China's private sector

China Daily  

An employee works on a chip production line in Jiujiang, Jiangxi province. The country will also support capable private enterprises in leading national initiatives to make breakthroughs in major technologies and provide private enterprises with greater access to major national scientific research infrastructure, he said. "As the rule of law offers the best business environment, China will formulate and introduce …

China vows more opportunities for private enterprises
8 months, 2 weeks ago

China vows more opportunities for private enterprises

China Daily  

China vowed to create a favorable environment, to offer more opportunities for private enterprises, and enhance mechanisms for private companies to participate in major national projects, said a senior financial official at a news conference on Friday. Han Wenxiu, executive deputy director of the office of the Central Committee for Financial and Economic Affairs, said the country will support capable …

Private economy set to get boost from law draft
1 year, 1 month ago

Private economy set to get boost from law draft

China Daily  

A view of Beijing's CBD area. China has taken a decisive step toward bolstering its private sector by starting to draft a law on promoting the private economy, marking the latest step in boosting business confidence and revitalizing the growth of the world's second-largest economy, analysts said on Thursday. Their comments came as the Ministry of Justice, the National Development …

China’s millionaires are worried. That’s a problem for Wall Street.
1 year, 3 months ago

China’s millionaires are worried. That’s a problem for Wall Street.

Live Mint  

For years, banks including Citigroup, JPMorgan and UBS competed hard to win business from China’s giant pool of wealthy people. The sharp rise in U.S. interest rates over the last two years is another headache for private banks, since it means China’s wealthy can now get attractive returns while taking very little risk. But markets elsewhere have bounced back this …

Xi Jinping’s grip on Chinese enterprise gets uncomfortably tight
1 year, 3 months ago

Xi Jinping’s grip on Chinese enterprise gets uncomfortably tight

Hindustan Times  

AS THE HEAD office of Northern Heavy Industries comes into view, so does a huge slogan fixed permanently to its roof in metre-high red Chinese characters, where you might usually see a company name. Many global investors increasingly view China’s private sector as a captive of the Communist Party. A recent paper from the Centre for Strategic and International Studies, …

Private enterprises vital part of Chinese economy
1 year, 4 months ago

Private enterprises vital part of Chinese economy

China Daily  

A view of Beijing's CBD area. The Private Economic Development Bureau was established against this background and has become a specialized department serving the development of private enterprises. Private enterprises contribute more than 60 percent to China's GDP, absorb more than 70 percent of migrant workers, provide 80 percent of urban jobs, and 90 percent of jobs in emerging sectors. …

Xi calls on private sector to promote entrepreneurship
1 year, 5 months ago

Xi calls on private sector to promote entrepreneurship

China Daily  

President Xi Jinping has encouraged the vast number of people engaged in the private sector of the Chinese economy to fully implement the new development philosophy and promote entrepreneurship in order to make contributions to building a strong country in all respects and realizing national rejuvenation. He urged the federation to play a greater role in boosting confidence in the …

Private Companies Fight for Their Commercial Lives in China
1 year, 6 months ago

Private Companies Fight for Their Commercial Lives in China

The Diplomat  

Private companies both foreign and domestic are fighting for their commercial lives in China. As Xinhua, the news agency of the Chinese Communist Party, openly admits, “The private economy plays an important role in China’s economic development as it contributes approximately 50 percent of the country’s tax revenue, 60 percent of GDP, 70 percent of technological innovation, and accounts for …

Skepticism prevails as Chinese leaders promise to back private businesses to spur slowing economy
1 year, 8 months ago

Skepticism prevails as Chinese leaders promise to back private businesses to spur slowing economy

Associated Press  

BEIJING — The Fangbiaogan Real Estate Agency in the southern city of Nanning is still waiting for China’s post-COVID rebound. “They feel safer holding onto their savings instead of spending them.” Chinese leader Xi Jinping’s government is making ambitious promises to drag the economy out of that crisis of confidence aggravated by tension with Washington, wilting exports, job losses and …

Central leadership keen to promote private economy
1 year, 8 months ago

Central leadership keen to promote private economy

China Daily  

Workers work at a workshop of Jack Sewing Machine Co., Ltd. in Taizhou, East China's Zhejiang province, March 23, 2023. The guideline the Communist Party of China Central Committee and the State Council, China's Cabinet, released on July 19 to boost the growth of the private economy is a milestone in the history of private sector development. China's experiences in …

Central leadership keen to promote private economy
1 year, 8 months ago

Central leadership keen to promote private economy

China Daily  

Workers work at a workshop of Jack Sewing Machine Co., Ltd. in Taizhou, East China's Zhejiang province, March 23, 2023. The guideline the Communist Party of China Central Committee and the State Council, China's Cabinet, released on July 19 to boost the growth of the private economy is a milestone in the history of private sector development. China's experiences in …

Number of private firms in China exceeds 50m
1 year, 8 months ago

Number of private firms in China exceeds 50m

China Daily  

The number of China's registered private firms exceeded 50 million as of early April, and 50.93 million by the end of May, 3.7 times increase from 2012 end, with the share of private firms in enterprises increased from 79.4 percent to 92.4 percent, People's Daily Overseas Edition reported on Sunday based on data from the State Administration for Market. In …

China unveils regulation on private investment funds
1 year, 8 months ago

China unveils regulation on private investment funds

China Daily  

BEIJING -- China published a regulation on Sunday concerning the supervision and administration of private investment funds, the country's first administrative regulation on the sector, marking the latest move to safeguard the healthy development of the industry and protect investors. The regulation aims to encourage the standardized and healthy development of the private investment fund industry, better protect the legitimate …

China unveils regulation on private investment funds
1 year, 8 months ago

China unveils regulation on private investment funds

China Daily  

BEIJING -- China published a regulation on Sunday concerning the supervision and administration of private investment funds, the country's first administrative regulation on the sector, marking the latest move to safeguard the healthy development of the industry and protect investors. The regulation aims to encourage the standardized and healthy development of the private investment fund industry, better protect the legitimate …

Private sector given support to 'grow, thrive'
2 years ago

Private sector given support to 'grow, thrive'

China Daily  

A staff member works on the production line of a semiconductor manufacturer in Binzhou, Shandong province. China will make further efforts to enable private entrepreneurs to grow and thrive, and the country's private enterprises will enjoy a better environment and broader development space, Premier Li Qiang said on Monday. Noting that the country has a supersized market with huge demand …

China will play ‘active part’ in global governance, says Xi Jinping
2 years ago

China will play ‘active part’ in global governance, says Xi Jinping

The Hindu  

Chinese President Xi Jinping on Monday said China would “play an active part” in global governance while calling for the Chinese military to build a “Great Wall of steel”, as he officially began his third five year-term. Speaking in Beijing at the conclusion of the annual National People’s Congress legislative session, which on Friday formally endorsed his unprecedented third term, …

Xi reaffirms support for private sector
2 years ago

Xi reaffirms support for private sector

China Daily  

President Xi Jinping, who is also general secretary of the Communist Party of China Central Committee and chairman of the Central Military Commission, participates in a joint group meeting with national political advisers from the China National Democratic Construction Association and the All-China Federation of Industry and Commerce, in Beijing on Monday. JU PENG/SHEN HONG/XINHUA President pledges to bolster business …

Xi reaffirms support for private sector
2 years ago

Xi reaffirms support for private sector

China Daily  

President Xi Jinping, who is also general secretary of the Communist Party of China Central Committee and chairman of the Central Military Commission, participates in a joint group meeting with national political advisers from the China National Democratic Construction Association and the All-China Federation of Industry and Commerce, in Beijing on Monday. Xi encouraged private businesses to transform their pattern …

China’s Xi urges private companies to ‘be rich and loving’
2 years ago

China’s Xi urges private companies to ‘be rich and loving’

Al Jazeera  

China’s leader said private firms should share the fruits of their growth with employees more equitably. Chinese President Xi Jinping has said private companies should be “rich and loving” by shouldering a responsibility along with state-owned firms to achieve prosperity for all. Xi also said private firms should share the fruits of their growth with employees more equitably, in what …

Laoshan highlights private sector development
2 years, 4 months ago

Laoshan highlights private sector development

China Daily  

Laoshan district in Qingdao, Shandong province has been ramping up efforts to promote the development of the private economy, which is considered to be a central engine of economic growth, a driver of innovation and a source of tax revenue for public expenditure. On Nov 22, Laoshan held a symposium on high-quality development of the private economy that outlined a …

China’s year of crackdowns: Party first, business second
3 years, 3 months ago

China’s year of crackdowns: Party first, business second

Al Jazeera  

Beijing’s crackdown on real estate, tech and education has made it clear it dictates the terms to private businesses. “Where companies are not seen doing that, they will face swift regulatory action.” Kyle Jaros, associate professor of global affairs at the University of Notre Dame, told Al Jazeera the Chinese Communist Party had made it clear the “party-state can dictate …

China strengthens lending support for private enterprises
3 years, 4 months ago

China strengthens lending support for private enterprises

China Daily  

BEIJING -- China has increased lending support for the private sector, with new loans to private enterprises reaching 5 trillion yuan in the first 10 months of 2021, according to China's top banking and insurance regulator. Outstanding loans to private enterprises by banking financial institutions stood at 53.1 trillion yuan as of September this year, 15 trillion yuan more than …

China targets financial sector in new anti-corruption drive
3 years, 4 months ago

China targets financial sector in new anti-corruption drive

Al Jazeera  

China’s ruling Community Party turned its sights on the country’s vast financial sector this month, kicking off a new round of a years-long campaign to uncover corruption and illegal dealings. The country’s top anti-corruption watchdog has started a roughly two-month inspection of more than 20 institutions including the central bank, the banking and insurance regulator, stock exchanges, commercial banks and …

Vice-premier vows greater support for private sector
3 years, 6 months ago

Vice-premier vows greater support for private sector

China Daily  

Bank employees inspect a small firm that received a loan in Hai'an, Jiangsu province. Intensified support must be given to support the growth of the private sector and encourage it to play a greater role in boosting innovation and stabilizing growth and employment, Vice-Premier Liu He said on Monday. Liu's remarks, made in a video speech at the China International …

China’s biggest private companies are in chaos. It’s all part of Beijing’s plan
3 years, 7 months ago

China’s biggest private companies are in chaos. It’s all part of Beijing’s plan

CNN  

Editor’s Note: A version of this story appeared in CNN’s Meanwhile in China newsletter, a three-times-a-week update exploring what you need to know about the country’s rise and how it impacts the world. “Ultimately, Beijing’s crackdown on private business is about control,” said Alex Capri, a research fellow at the Hinrich Foundation. “The main priority is about preventing behavior amongst …

Small favors
4 years, 3 months ago

Small favors

China Daily  

Government has to do more to reduce the financing obstacles faced by SMEs YAO ER/FOR CHINA DAILY Despite their growing importance, the problem of financing for private businesses, especially privately-owned small and medium-sized enterprises, is still a long-term problem in China. In addition, given the complicated current situation and the status quo of China's banking sector, China needs to adopt …

Small favors
4 years, 3 months ago

Small favors

China Daily  

Government has to do more to reduce the financing obstacles faced by SMEs YAO ER/FOR CHINA DAILY Despite their growing importance, the problem of financing for private businesses, especially privately-owned small and medium-sized enterprises, is still a long-term problem in China. In addition, given the complicated current situation and the status quo of China's banking sector, China needs to adopt …

Shandong promotes healthy development of private sector
4 years, 3 months ago

Shandong promotes healthy development of private sector

China Daily  

The province of Shandong has been making continuous efforts to facilitate the healthy development of its private sector, which plays a significant role in the socialist market economy, according to local authorities. During the 13th Five-Year Plan period, the province launched a slew of measures and policies to encourage, support, and guide the development of the private sector, deepen reforms …

Official: China's financial industry in smooth operation
4 years, 7 months ago

Official: China's financial industry in smooth operation

China Daily  

China's financial industry has been steadily operating with generally controllable risks, Guo Shuqing, chairman of the China Banking and Insurance Regulatory Commission told Xinhua in an interview. This year, China has lowered the average reserve requirement ratio three times while providing financial institutions with 1.8 trillion yuan worth of re-lending and rediscount quotas, which effectively cranked up the development of …

Policies to boost China's economy
6 years, 3 months ago

Policies to boost China's economy

China Daily  

Employees of private car manufacturer Geely Holding Group work at a vehicle assembly line in Ningbo, Zhejiang province. Opportunities, challenges co-exist for private sector and foreign investors as nation continues its push for new round of reform and opening-up Jon Taylor, professor of political science at the University of St. Thomas in Houston, Texas: How do you see private companies' …

Shandong nurtures nonpublic sector with friendly policies
6 years, 4 months ago

Shandong nurtures nonpublic sector with friendly policies

China Daily  

East China's Shandong province will come out with policies to spur innovation, boost funding, reduce costs and improve the overall business environment as part of its efforts to boost the private sector, a top provincial official said. Citing statistics from recent years, Liu said the private sector accounts for 50 percent of the province's gross domestic product and 70 percent …

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