In an effort to promote the growth of the private economy, Gao Yunlong, chairman of the All-China Federation of Industry and Commerce, announced on Sunday that accelerated steps would be taken to guide private enterprises towards a more modern approach to governance. Speaking on the sidelines of the “two sessions” conference, Gao highlighted the importance of modernizing the operating mechanisms of the private economy.
Gao also highlighted the efforts made by the federation over the past few years to improve the business environment and lower operating costs for private enterprises. With five million member companies, the federation has been collecting feedback from private enterprises and relaying their difficulties and problems to the government to help implement supporting policies.
As China continues to promote its private economy, boosting the confidence of private entrepreneurs is critical to stabilizing market confidence and driving rapid economic development. Gao emphasized the need to improve the service mechanism for private entrepreneurs and to support their development on a broader stage. By providing more support to private enterprises, Gao believes that they can develop more effectively and help drive the growth of the economy.
To ensure the long-term success of the private economy, Gao stressed the importance of promoting a modern governance mindset among private enterprises. The federation will work to create a more level playing field for both state-owned and private companies, helping to promote a more open and fair market environment. By doing so, Gao believes that private enterprises will be able to better compete with state-owned enterprises, leading to greater innovation and productivity.
As the private economy continues to grow in China, the efforts of the All-China Federation of Industry and Commerce are critical to its success. With their help, private enterprises will be able to develop more effectively, and play a greater role in driving the growth of the Chinese economy.