Soon after Premier Wen Jiabao came to power nearly 10 years ago, his cabinet started to send unmistakable signals that China would boost development of the private sector as a key driver of economic growth by opening up greater space for private investment.
In 2005, the State Council unveiled with much fanfare 36 measures aimed at boosting the private sector development and in particular encouraging private investment in those strategic and hugely lucrative industries and sectors monopolised by the state firms - banking, energy, infrastructure and aviation, to name a few.
State media trumpeted the exciting line that private investment was welcome in almost any industry or sector, while the overseas media praised the mainland leadership for its bold vision and reform drive.
Alas, how short-lived the excitement was. Since then, each year authorities have unashamedly repeated their commitment to such opening up, but in reality just the opposite is happening.
State-owned firms, helped by preferential policies and easy credit from state-owned banks, are getting bigger and stronger, further consolidating their monopolistic controls over key industries and sectors.
This has given rise to a succinct term that vividly captures the role of the government in the economy - 'the state advances while the private sector retreats'. Embarrassed officials have found the term so stinging that it is largely banned in state media.