Chinese President Xi Jinping told business leaders that the private sector does not have to fear government intrusion and can expect supportive measures such as tax cuts and bailout packages, the South China Morning Post reports.
Speaking at a “symposium” alongside vice-premiers Han Zheng and Liu He, Xi met with representatives of large companies including tech powerhouses Baidu and Tencent, telling them he was there “to boost your confidence,” according to state media.
Xi said that the government’s policy of “encouraging, supporting and guiding” the private economy “had not changed,” and that the Communist Party’s policy of promoting the private sector will only get “stronger”.
“Some argued that the private economy has completed its mission and will fade out … some wrongly argued that setting up party cells and labour unions in private businesses is intended to control private enterprises … all these statements are completely wrong and do not conform to the party’s policies,” Xi said in a speech.
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