Xi Jinping, General Secretary of the Communist Party of China (CPC) Central Committee, is set to publish a thought-provoking article emphasizing the importance of strengthening both China’s public and private sectors. The article will appear in the upcoming sixth issue of Qiushi Journal, the flagship magazine of the CPC Central Committee.
In his article, Xi underscores that China’s fundamental economic system, enshrined in both the Constitution of the People’s Republic of China and the Party Constitution, remains steadfast and immutable. He highlights the need for economic entities, regardless of ownership, to have equal access to resources, compete on a level playing field, and receive equal protection under the law.
“The public and non-public sectors are both vital components of our socialist market economy,” Xi writes. “They should complement each other and grow together, forming a solid foundation for China’s economic and social development.”
He praises state-owned enterprises as a cornerstone supporting the Party in governing and rejuvenating the Chinese mainland. These enterprises have made historic contributions to economic growth, technological advancements, national defense, and improving people’s livelihoods.
Xi also acknowledges the significant role of the private sector, noting its impact on stabilizing growth, driving innovation, creating jobs, and enhancing living standards. “When private enterprises and entrepreneurs face challenges, the Party and the country are there to offer support and guidance,” he affirms.
Emphasizing that China is still in the primary stage of socialism, Xi calls for continued reforms to develop the socialist market economy. He urges an unwavering commitment to consolidating and advancing the public sector while simultaneously encouraging, supporting, and guiding the development of the non-public sector.
This article reflects Xi’s vision for a harmonious and prosperous economy where both public and private sectors thrive side by side, contributing to the nation’s ongoing development.
