A worker samples bottled water at a factory in Meishan, Southwest China's Sichuan Province, on July 24, 2023. It's high season for bottled water in the summer, and food production enterprises in Meishan are working at full capacity to ensure market supply. Photo: VCG

Senior officials from China's National Development and Reform Commission (NDRC), the top economic planning agency, continued to hold back-to-back meetings with various sectors of the private economy to learn about their operations, difficulties and policy suggestions, the agency said on Wednesday. 

The meetings underscore great importance Chinese policymakers are placing on private enterprises and signals increasingly robust policy and other support for the private economy in line with the tone set by a recent meeting of the Political Bureau of the Communist Party of China (CPC) Central Committee.

Recently, NDRC officials responsible for different sectors continued to hold symposiums with private enterprises from all sectors to learn about the firms operating conditions and other issues, according to a statement posted on the NDRC's website. 

Li Chunlin, a vice chairman of the NDRC, held meetings with representatives from private companies including Huolala, which operates as cargo service platforms, and Markor, a furniture maker. Li traveled to places such as Northwest China's Xinjiang Uyghur Autonomous Region and East China's Fujian Province to meet with private enterprises to learn about their sentiments, views and assessment of the current macro-economic situation, according to the NDRC. 

Yang Yinkai, also a vice chairman of the NDRC, met with YTO Express and other logistics companies to learn about the opinions and suggestions of private enterprises on the express logistics industry. Guo Lanfeng, a member of the CPC Leadership Group of the NDRC, avisited the Zhongguancun Robot Industry Innovation Center in Beijing and met with private enterprises in the sector.

The NDRC statement on Wednesday came just two days after a meeting of the Political Bureau of the CPC Central Committee, which focused on the economic situation in the second half of the year. The meeting, held on Monday, called for policies and measures to promote private investment and provide private enterprises with an enabling environment. 

As the Chinese economy continues to face downward pressure both at home and abroad, top Chinese officials have repeatedly expressed support for the private economy, which plays a crucial role in the overall economic development.

Last week, China issued guidelines which included 31 measures to boost the growth of the private sector, stressing that the nation will ensure that enterprises of varied ownerships will compete fairly and be protected by the laws, in order to boost market confidence and consolidate the foundation for a rapid economic recovery.

And, various ministries have vowed policy support for private enterprises. The NDRC has released a notice on promoting private investment, which covers four areas such as creating a favorable environment for private investment and includes 17 specific support measures.

In the first half of 2023, despite relatively sustained pressure on the growth of private investment, there were also several highlights, with private investment excluding real estate growing 9.4 percent year-on-year, 5.4 percentage points faster than the growth rate of total investment, according to the NDRC. 

Moreover, private investment in the manufacturing sector grew by 8.4 percent year-on-year, 2.4 percentage points faster than the growth rate of total manufacturing investment, and private investment in infrastructure grew by 15.6 percent year-on-year, the NDRC said. 

Global Times