According to Reuters, this thematic conference highlighted changes in China's approach to concerns about slowing economic growth and the impacts of the US-China trade war on the development of the country's technology industry.
A Reuters source said that Liang Wenfeng - founder of DeepSeek, businessman Pony Ma of Tencent also attended the conference.
According to Xinhua, at the seminar, Huawei businessmen Ren Zhengfei, BYD Wang Chuanfu, New Hope Liu Yonghao, Will Semiconductor's Yu Renrong, Unitree Robotics' Wang Xingxing and Xiaomi's Lei Jun presented their opinions and suggestions for developing China's private sector.
After listening to the opinions of representatives of private companies, Chairman Tap Can Binh gave a speech, emphasizing that the private sector has great prospects and great potential on the new journey in the new era. According to the Chinese leader, this is the best time for private enterprises and entrepreneurs to reach their full potential. He called for consensus and strengthening trust to promote the healthy, high-quality development of the private sector.
According to Chairman Xi Jinping, China must ensure that economic entities of all forms of ownership have equal access to production factors, equal competition in the market and equal protection under the law. The new journey in the new era brings many new opportunities and more space for the development of the private sector.
He emphasized that the current difficulties and challenges that the private sector faces can be overcome and called for confidence in the future. He called for the determination to remove barriers that prevent businesses from accessing production factors equally and competing fairly in the market, continue to open competitive infrastructure areas for many fair business entities and constantly strive to solve the difficulties that private businesses face in accessing financial resources. He also affirmed the effective protection of the legitimate rights and interests of private enterprises and entrepreneurs according to the law.
Private enterprises and entrepreneurs should promote the spirit of entrepreneurship and patriotism, focus on consolidating, optimizing and expanding business activities, while actively contributing to building China, Chairman Xi Jinping emphasized.
This thematic conference aims to promote the spirit of the private sector in the context of the increasingly tense China-US technology war, US tariffs threaten to put more pressure on the world's second largest economy, which is facing weak domestic consumer demand and a real estate debt crisis. The conference also comes as global attention is on DeepSeek's AI platform.
According to official estimates, the private enterprise sector contributes more than 50% to tax revenue, more than 60% of economic output, 70% of technological innovation and 80% of urban jobs in China.
Analysts pointed out that the participation of Alibaba founder Jack Ma in the conference has the potential to boost business confidence. The renowned businessman has withdrawn from public activities since Ant Group's IPO was stopped in 2020.
