A national political advisor has suggested measures to bolster the development of private enterprises, which are crucial for the country's overall development and cultivation of new quality productive forces.

Wang Jing, a member of the 14th National Committee of the Chinese People's Political Consultative Conference (CPPCC), poses for a photo during the "two sessions" held at the Great Hall of the People, Beijing, March 8, 2024. [Photo provided to China.org.cn]

Wang Jing, a member of the 14th National Committee of the Chinese People's Political Consultative Conference (CPPCC) and CEO of Newland Group, said the current period is one marked by global uncertainties, which pose increasing challenges to the private sector. She emphasized the importance of supporting private enterprises to help them navigate and overcome various difficulties.

"We need to step up efforts to help private enterprises and further boost the confidence of business leaders; otherwise, there will be hesitancy in investment, which will lead to lower expectations and hamper growth," she told China.org.cn.

In one of her proposals submitted to the second session of the 14th CPPCC National Committee this year, she noted that private sector innovation plays a key role in upgrading the nation's productive forces, contributing more than 70% of innovative achievements in the country.

"Private enterprises also inject talent and momentum into the development of new quality productive forces, providing a large number of jobs and training innovative talent," Wang stated.

She believes that the private sector will further elevate new quality productive forces, emphasizing that success depends on the timely application of technological innovations to specific industries and industrial chains. "For example, in building a digital China, whether empowering traditional industries with digital technology for transformation and upgrades, nurturing emerging industries with original and breakthrough innovations, or strategizing for future industries, private enterprises play an important role in realizing the market commercialization of innovative achievements," she said.

The national political advisor proposed that the Chinese government enhance the country's business environment to instill more confidence in private enterprises, and encourage more private enterprises to expand globally and compete internationally. Wang further recommended the rapid commercialization of innovative achievements by private enterprises and their integration into national and local development strategies.

Furthermore, she urged strengthening legislation to ensure the legitimate rights and interests of enterprises and entrepreneurs in various aspects, thus creating a more favorable legal environment that encourages innovation of private enterprises.

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