Xi Jinping "Consistently Supports Private Enterprises"... Indicates Domestic Demand Expansion Next Year

People's Daily Introduces Xi Jinping's Remarks at the Economic Work Conference

[Image source=Yonhap News]

[Asia Economy Reporter Oh Su-yeon] Chinese President Xi Jinping reportedly stated at the Central Economic Work Conference that his support for private enterprises is not a temporary measure but a firm conviction, according to state media.

On the 18th, the Chinese Communist Party's official newspaper, People's Daily, reported that at the first plenary session of the Central Economic Work Conference held in Beijing on the 15th, President Xi said, "The report of the 20th National Congress of the Communist Party clearly promotes the grand development of the private economy. This is a long-term policy, not a temporary measure."

People's Daily also conveyed President Xi's remarks that "Private enterprises have developed under the Party's leadership through the Party's policies and their own efforts. I have consistently supported private enterprises and have worked in areas where the private economy is relatively developed."

The Central Economic Work Conference determines the economic policy direction for the coming year. The state media's coverage of such remarks is interpreted as the leadership's stance to focus on expanding domestic demand centered on the private sector to restore economic growth next year.

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