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Sun Xiaohua: Motivating Private Business Is Key to China

ACFIC Vice Chairman and CPPCC Member Sun Xiaohua says that changing the growth pattern of the private economic sector and mobilizing its inherent energy is of great significance to the country’s economic development and structural readjustment.

Sun made the remarks on behalf of the ACFIC during the second plenary session of the third meeting of the 11th National Committee of the Chinese People’s Political Consultative Conference on March 7.

Sun said that the central government has been emphasizing the importance of stepping up the change of economic growth pattern and increase the internal mobility and vitality of the economy. Enterprises constitute the main body and foundation of the change and it is the major driving force and source of vitality of economic development. Therefore, private enterprises, which account for over 70 percent of the country’s total in number, plays a key role in the country’s economic structural readjustment and change of growth pattern.

Sun suggested that the government’s policy should be more flexible and targeted, focusing on fostering and improving the system for the development of various types of small-sized enterprises, promoting the change of growth patterns of the private sector, increasing its vitality and competitiveness, and inspiring its inherent mobility.

He also gave four detailed suggestions. First, to allow the state sector and the private sector to fully tap their own advantages and co-exist; secondly, to protect and promote small-sized business and strengthen relevant legal and social service systems for them; thirdly, deepen financial system reform and ease the financing difficulty for small business; and finally, to encourage the growth of private enterprises, and include the big ones in the country’s overall development strategy for big enterprises.