Xi Jinping's speech at the forum of entrepreneurs

(21 July 2020)

Xi Jinping

Today, we hold a forum for entrepreneurs. First, we will have a heart-to-heart talk with you. Second, we will encourage you. Third, we will listen to your opinions and suggestions on the current economic situation and the reform and development of enterprises during the 14th Five-Year Plan period.

Attending today's forum were responsible persons of state-owned enterprises, private entrepreneurs, managers of foreign-funded enterprises and Hong Kong, Macao and Taiwan-funded enterprises, and representatives of individual industrial and commercial households. We live in different industries and different regions, have long-term management experience, and have their own observation and thinking on the development of enterprises.

Just now, seven representatives made very good speeches. Everyone talked about the situation and sought truth from facts, and the suggestions were highly targeted and of great reference value. I was very inspired. Relevant departments should carefully study the opinions and suggestions put forward by entrepreneurs and formulate relevant policies and measures in a timely manner.

In the following, I would like to make a few comments in the light of your speeches.

1. Protecting and Stimulating the Vitality of Market Entities

Since the reform and opening up, my country has gradually established and continuously improved the socialist market economic system, the market system has continued to develop, and various market entities have flourished. By the end of 2019, China has 0.123 billion market entities, including 38.58 million enterprises and 82.61 million individual businesses. These market players are the main participants in my country's economic activities, the main providers of employment opportunities, and the main promoters of technological progress, and they play a very important role in national development. Since the outbreak of the new coronary pneumonia epidemic, under the leadership of party committees and governments at all levels, various market players have actively participated in the people's war to deal with the epidemic, working together, overcoming difficulties and striving to save themselves, while providing strong material support for the prevention and control of the epidemic. I would like to take this opportunity to express my heartfelt thanks to the vast number of state-owned enterprises, private enterprises, foreign-funded enterprises, Hong Kong, Macao and Taiwan-funded enterprises, and individual industrial and commercial households for their contributions to the prevention and control of the epidemic and economic and social development!

Through the joint efforts of the whole country, China has made significant strategic achievements in the prevention and control of the epidemic, and its economic development has shown a steady improvement, leading the world in the prevention and control of the epidemic and economic recovery. China's economy fell sharply in the first quarter, stabilized and rebounded in the second quarter, turning from negative to positive, growing by 3.2 per cent, and GDP fell by 1.6 per cent in the first half of the year, a better-than-expected situation. We should strengthen our confidence, face up to the difficulties, strive to make up for the losses caused by the epidemic, and strive for good results in economic development throughout the year.

The neo-coronary pneumonia epidemic has had a tremendous impact on our economy and the world economy, and many of our market players are under unprecedented pressure. The market subject is the carrier of economic power, and to protect the market subject is to protect the social productivity. If you keep the green hills, you are not afraid of firewood. We should do everything possible to protect the main body of the market and accumulate basic strength for economic development.

The Central Committee of the Communist Party of China has clearly stated that it is necessary to do a solid job of "six stability" and implement the "six protection" tasks, and various regions and departments have introduced a series of policies and measures to protect and support market players. The next step is to increase policy support and stimulate the vitality of market entities, so that the majority of market entities can not only survive normally, but also achieve greater development.

First, implement the policy of bailing out and benefiting enterprises. It is necessary to implement a more proactive fiscal policy and a more stable and flexible monetary policy to enhance the pertinence and timeliness of macro policies. We should continue to reduce taxes and fees, reduce rents and interest rates, and ensure that the relief measures reach the grass-roots level and directly benefit market players. We should strengthen financial support for market players, develop inclusive finance, and effectively alleviate the problem of financing difficulties and expensive financing for enterprises, especially small, medium and micro enterprises. To support marketable export commodities to open up the domestic market. State-owned enterprises, especially central enterprises, should play a leading role in driving all kinds of upstream and downstream enterprises to tide over difficulties. It is necessary to strengthen international cooperation and protect the industrial chain and supply chain.

Second, create a market-oriented, rule-of-law and international business environment. It is necessary to implement the Civil Code and relevant laws and regulations, equally protect the property rights and independent management rights of state-owned, private, foreign-funded and other ownership enterprises in accordance with the law, and improve the legal environment for fair competition among various market entities. It is necessary to protect the legitimate rights and interests of entrepreneurs in accordance with the law, strengthen the protection of property rights and intellectual property rights, form long-term stable development expectations, encourage innovation, tolerate failure, and create a strong atmosphere that encourages entrepreneurs to start their own businesses. It is necessary to promote decentralization, fully implement the negative list system of market access, and support enterprises to better participate in market cooperation and competition. We should implement the foreign investment law, relax market access, and promote trade and investment facilitation. Enterprises registered in China should be treated equally and a level playing field should be improved.

Third, the construction of pro-Qing political and business relations. Leading cadres at all levels should communicate with enterprises in an open and aboveboard manner, understand what entrepreneurs think, what they are trapped and confused, and listen more to the opinions and suggestions of entrepreneurs in the formulation of enterprise-related policies. at the same time, we should resolutely prevent problems such as trading of power and money and commercial bribery from harming political and business relations and business environment. We should give full play to the decisive role of the market in the allocation of resources and give better play to the role of the government. The government is the maker of market rules and the defender of market fairness. It must provide more high-quality public services. We should support entrepreneurs to have no distractions and long-term plans, run Hengye with perseverance, take root in the Chinese market and cultivate the Chinese market deeply.

Fourth, attach great importance to supporting the development of individual industrial and commercial households. There are more than 8200 million individual industrial and commercial households in my country, which have driven more than 0.2 billion of the employed population. They are the largest number of market entities and the most direct service providers for the lives of the people. They are currently facing the most practical difficulties. It is necessary to actively help individual industrial and commercial households solve problems in rent, taxes, social security, and financing, and provide more direct and effective policy assistance.

2. promotion of entrepreneurship

Since the reform and opening up, a large number of courageous and innovative entrepreneurs have thrived, forming a team of Chinese entrepreneurs with distinctive characteristics of the times, national characteristics, and world standards. If entrepreneurs want to lead enterprises to overcome the current difficulties and move towards a more brilliant future, they must constantly improve themselves in patriotism, innovation, integrity, social responsibility and international vision, and strive to become a new force in building a new development pattern, building a modern economic system and promoting high-quality development in the new era. Here, I mention a few hopes.

First, I hope everyone will strengthen their patriotic feelings. Enterprise marketing without borders, entrepreneurs have the motherland. Outstanding entrepreneurs must have a lofty sense of mission and a strong sense of responsibility for the country and the nation, closely integrate the development of the enterprise with the prosperity of the country, the prosperity of the nation, and the happiness of the people, and take the initiative to take responsibility for the country and share worries for the country. It is the so-called "good for the country. Love it, harm the country and evil it". Patriotism is the glorious tradition of outstanding entrepreneurs in China since modern times. From Zhang Jian in the late Qing Dynasty and the early Republic of China, to Lu Zuofu and Tan Kah Kee during the Anti-Japanese War, to Rong Yiren and Wang Guangying after the founding of New China, they are all models of patriotic entrepreneurs. Since the reform and opening up, China has also emerged a large number of patriotic entrepreneurs. There are many ways to realize the patriotism of entrepreneurs, but the first is to run a first-class enterprise, lead the enterprise to work hard and strive for the first-class, so as to achieve the development of better quality, higher efficiency, stronger competitiveness and greater influence.

Second, I hope everyone will be innovative. Innovation is the first driving force for development. "Rich is called great cause, and new day is called Shengde." Entrepreneurs' innovation activities are the key to promote the innovation and development of enterprises. Famous entrepreneurs such as Edison and Ford in the United States, Siemens in Germany, and Konosuke Matsushita in Japan are both management masters and innovation masters. Since the reform and opening up, my country's economic development has achieved world-renowned achievements, which are inseparable from the vigorous promotion of innovative spirit by entrepreneurs. Innovation is about taking risks. Dare for the world first to overcome risks and challenges, to achieve high-quality development especially need to promote the quality. At present, the epidemic is difficult, but the crisis is organic, only the innovator wins. Entrepreneurs should be explorers, organizers, and leaders of innovation and development, have the courage to promote production organization innovation, technological innovation, and market innovation, attach importance to technology research and development and human capital investment, effectively mobilize the creativity of employees, and strive to build the company into a strong innovation subject, To achieve the Phoenix Nirvana and rebirth in the predicament.

Third, I hope everyone is honest and law-abiding. "Those who are sincere are the way of heaven. Those who think sincerely are the way of man." People cannot stand without faith, especially enterprises and entrepreneurs. The socialist market economy is a credit economy and an economy ruled by law. Entrepreneurs should deal with all aspects and mobilize human, financial, material and other resources. Without integrity, it is difficult to do anything. Due to various reasons, some enterprises still have many phenomena of dishonesty and even violation of laws and regulations in their business activities. The consciousness of the rule of law, the spirit of contract and the concept of compliance are the important consciousness norms of modern economic activities, as well as the important requirements of the credit economy and the rule of law economy. Entrepreneurs should set an example of honesty and law-abiding, and promote the moral quality and civilization of the whole society.

Fourth, I want everyone to take social responsibility. As I said, enterprises have not only economic responsibility, legal responsibility, but also social responsibility and moral responsibility. Any enterprise that exists in society is a social enterprise. Society is a stage for entrepreneurs to display their talents. Only entrepreneurs who sincerely return to the society and earnestly fulfill their social responsibilities can be truly recognized by the society and are entrepreneurs who meet the requirements of the times. Over the years, more and more entrepreneurs have devoted themselves to various public welfare undertakings. In the fight against the new coronary pneumonia epidemic, the vast number of entrepreneurs have made important contributions by actively donating money and materials and providing voluntary services, which deserve full recognition. At present, the employment pressure is increasing, and some workers are facing the risk of unemployment. Caring for employees is an important aspect of entrepreneurs fulfilling their social responsibilities. They must strive to stabilize jobs, care about the health of employees, and work with employees to tide over difficulties.

Fifth, I hope you will expand your international perspective. As big as you have vision, you have as big a mind. Since the reform and opening up, Chinese entrepreneurs have grown up in the international market, and their ability to make use of both international and domestic markets and resources has been continuously improved. In the past 10 years, the pace of Chinese enterprises going global has been significantly accelerated, and more and more world-class enterprises have emerged. In recent years, economic globalization has encountered countercurrents and economic and trade frictions have intensified. Some companies have adjusted their industrial layout and global resource allocation based on considerations such as factor costs and the trade environment. This is a normal adjustment of production and operation. At the same time, we should see that China is the most potential market in the world, with the most complete industrial supporting conditions. Entrepreneurs should be based in China, look at the world, improve their ability to grasp international market trends and demand characteristics, improve their ability to grasp international rules, improve their ability to develop international markets, improve their ability to prevent international market risks, and drive enterprises to achieve a higher level of opening up. Better development promotes domestic and international double cycles.

3. concentrate on your own business.

As I said at the National "Two Sessions" this year, facing the future, we must gradually form a new development pattern with the domestic cycle as the main body and the domestic and international double cycles promoting each other. The main consideration is: the world today is undergoing major changes unseen in a century, and a new round of technological revolution and industrial transformation is booming. In the past, under the external environment of the in-depth development of economic globalization, the "two ends" of the market and resources played an important role in the rapid development of our country. In the current external environment of rising protectionism, the downturn of the world economy and the shrinking of the global market, we must give full play to the advantages of the domestic super-large-scale market, add impetus to China's economic development and promote the recovery of the world economy by prospering the domestic economy and unblocking the domestic cycle. It is necessary to enhance the modernization level of the industrial chain supply chain, vigorously promote scientific and technological innovation, speed up key core technology research, and create new advantages for future development.

I have stressed many times that China's door to opening up will not be closed, but will only open wider and wider. Taking the domestic cycle as the main body is not to close the door to operate, but to better connect the domestic market and the international market by giving full play to the potential of domestic demand, and to make better use of the two international and domestic markets and two resources to achieve stronger and more sustainable development. From a long-term perspective, economic globalization is still a historical trend, and the division of labor and cooperation among countries, mutual benefit and win-win results are a long-term trend. We must stand on the right side of history, persist in deepening reform, expand opening up, strengthen open cooperation in the field of science and technology, promote the construction of an open world economy, and promote the construction of a community with a shared future for mankind.

Beginning next year, my country will enter the "14th Five-Year Plan" period. This is the first five years of the new journey of building a modern socialist country in an all-round way on the basis of building a well-off society in an all-round way. It is of great significance. The Party Central Committee attaches great importance to the formulation of the "14th Five-Year Plan", and relevant preparations are underway. Today, everyone has put forward many valuable opinions and suggestions on the formulation of the "14th Five-Year Plan", and relevant parties are requested to carefully study and absorb them. It is believed that through joint efforts, the vast number of enterprises and individual industrial and commercial households will certainly play a greater role and achieve greater development in the process of China's socialist modernization.

Source: Xinhua Daily Telegraph