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Beijing skyline. [Photo/VCG]
The central government recently announced that it will continue to encourage and support the expansion of private investment, provide private capital with high-quality projects in the future, make good use of the national financing and credit service platform, and provide financing and factor guarantees for major projects in the country. I vowed to strengthen the. Kind of like that.
The country has already adopted a series of policies towards that end. This shows that the country’s focus on the private economy is shifting from macro policy guidelines to the implementation of concrete actions.
Although private investment accounts for more than 50% of China’s total social investment, phenomena such as a lack of confidence in private investment and a low growth rate still exist. According to data from the National Bureau of Statistics, private investment in 2023 decreased by 0.4% from the previous year, but is still within the recovery range.
Expansion of private investment is extremely important in increasing investment enthusiasm, stabilizing market expectations, increasing employment, promoting the growth of residents’ income and consumption, and promoting the formation of a virtuous cycle of consumption and investment. be.
Restoring confidence in private investment ultimately depends on specific private companies. According to the latest data from the State Intellectual Property Administration of China, private enterprises cover 90% of high-tech enterprises and contribute to 70% of China’s technological innovation achievements, and private enterprises are in the midst of the country’s efforts to foster new quality. Production capacity, in which companies are expected to play a greater role.
On the other hand, as stated in the Government Activity Report submitted by Premier Li Qiang to the Supreme Parliament, there are various barriers to private investment, such as regional protectionism, market fragmentation, and unfair competition. It is necessary to further eliminate salient problems. Problems in attracting investment should be corrected.
Private enterprises still face some insurmountable barriers in obtaining factors, access permissions, government procurement and bidding, and the country is systematically cleaning up and abolishing policies that restrict the operation of private enterprises, and This highlights the need for companies to expand their market participation and establish a national system. A long-term mechanism to promote private capital for projects in key sectors.
Boosting private capital and entrepreneurial enthusiasm should be a top priority for the country’s economic activities now and in the future, and is key to solidifying the foundations of economic recovery. Achieving this goal also depends on introducing a series of institutional reforms.
THEPAPER.CN
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