Xi Jinping promises to protect China’s private businesses to ensure a ‘better tomorrow’
- Chinese president moves to soothe companies’ fears amid wavering economic growth
- Open letter published in state media contains some of his warmest words about private enterprises
Chinese President Xi Jinping has written an open letter to the country’s private business owners, saying Beijing will continue to value and protect them to ensure a “better tomorrow”.
In an apparent move to boost the confidence of China’ capitalists at a time when economic growth has slowed to the lowest level since 2009, Xi said Beijing fully recognised the role of private enterprises and the ruling Chinese Communist Party would continue to bless their development.
The letter, published by Xinhua on Sunday, said the private sector’s historic contribution to the country’s development was “indelible” and “should not be doubted”.
“Any words or acts to negate or weaken private economy are wrong,” Xi wrote.
“It is always a policy of the Central Committee of the Communist Party to support private business development, and this will be unwavering,” he continued.
The letter contained some of Xi’s warmest remarks about China’s private companies.