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China’s private sector
EconomyChina Economy

China’s Xi Jinping calls for ‘no delay’ in private sector protection

A newly published speech reiterates the president’s pledge to support China’s private companies as a recent survey shows many face challenges

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In a speech from a February meeting with entrepreneurs made public on Friday, President Xi Jinping assured the country’s private sector their concerns were being addressed. Photo: Reuters
June Xiain Hong KongandJi Siqiin Beijing

In another show of support for China’s private sector, Beijing has released the details of a speech from President Xi Jinping which included vows the country would guarantee a level playing field for private firms, safeguard entrepreneurs’ lawful rights and interests, and step up efforts to solve their long-standing challenges, including overdue payments.

The full address, delivered in February to a group of China’s leading entrepreneurs, had not been made available to the public before Friday, when Qiushi – the ruling Communist Party’s theoretical journal – posted a transcript on its website.

“The policies and measures to promote the development of the private economy must be implemented in a solid and thorough manner,” Xi said in February. “Whatever the party Central Committee has decided must be resolutely carried out – without ambiguity, delay, or compromise.”

Among those present at the gathering were founders and CEOs from the country’s major tech companies, including Alibaba’s Jack Ma, Wang Xingxing of Unitree Robotics, DeepSeek’s Liang Wenfeng and Ren Zhengfei of Huawei Technologies. Alibaba is the owner of the South China Morning Post.
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