Chinese media echoes Xi’s speech on private sector with flurry of editorials
Soon after the Chinese president openly backed the country’s private firms, state news outlets followed suit with numerous commentaries
“Practice has proven that the private economy is a vital force in advancing Chinese-style modernisation and serves as an important foundation for high-quality development,” read an editorial from the People’s Daily, the official news organ of the Communist Party.
It referenced Xi’s speech extensively, emphasising that the government’s core principles and policies for the private economy – unwavering support, equal competition and legal protection – are integral to China’s socialist system and represent a long-term commitment that will remain unchanged.
“At present, during the critical period of China’s modernisation drive, the private economy is embracing even broader prospects for development,” said the editorial.
“As China steps into a stage of high-quality development, private enterprises are poised to play a more significant role in areas such as technological innovation, sustainable development, and the digital economy,” wrote the pseudonymous author.