Chinese media echoes Xi’s speech on private sector with flurry of editorials

Several of China’s most influential state media outlets have published editorials expressing support for the private sector, a unanimous reinforcement of the rhetoric delivered on Monday by President Xi Jinping at a high-profile symposium for the country’s leading entrepreneurs.

“Practice has proven that the private economy is a vital force in advancing Chinese-style modernisation and serves as an important foundation for high-quality development,” read an editorial from the People’s Daily, the official news organ of the Communist Party.

It referenced Xi’s speech extensively, emphasising that the government’s core principles and policies for the private economy – unwavering support, equal competition and legal protection – are integral to China’s socialist system and represent a long-term commitment that will remain unchanged.

“At present, during the critical period of China’s modernisation drive, the private economy is embracing even broader prospects for development,” said the editorial.

On the same day, a commentary was published in the newspaper under the pen name “He Yin” – which translates to “voice for peace” – stating companies with executives at the meeting exemplify the “innovative spirit” of China’s private enterprises and are leaving a “remarkable impression” on the world.

“As China steps into a stage of high-quality development, private enterprises are poised to play a more significant role in areas such as technological innovation, sustainable development, and the digital economy,” wrote the pseudonymous author.

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