See More on Facebook

Business

Xi backs private companies

Government should help create favorable business climate, president says.


Written by

Updated: March 11, 2019

President Xi Jinping reaffirmed China’s commitment to supporting the development of private businesses during a discussion with National People’s Congress deputies from Fujian province on Sunday.

The government should implement supportive measures and policies, build a fair, transparent and legal environment and create a good atmosphere for the development of private companies, said Xi, who is also general secretary of the Communist Party of China Central Committee and chairman of the Central Military Commission.

In his speech, Xi said the government must create a good environment that promotes innovation, entrepreneurship and creativity throughout society.

The government should provide healthy conditions for small and medium-sized companies and for the development of young people, Xi said.

After a speech by Ding Shizhong, an NPC deputy and chairman of Anta Sports Products, Xi complimented Ding’s efforts to stay focused on the real economy and build up a national sportswear brand.

The government should help private companies achieve innovative development and build up a team of entrepreneurs with a pioneering spirit, forward-looking vision and global insight with respect to market competition, Xi said.

Xi encouraged Fujian, the area of the Chinese mainland that lies nearest to Taiwan, to set an example of promoting integrated development across the Taiwan Straits. The mainland and Taiwan should enhance their economic and trade links, boost the interconnectivity of infrastructure, strengthen mutual exchanges of energy and resources and promote the mutual application of industrial standards, he said.

He also stressed the importance of enhancing cultural exchanges with Taiwan, calling for more efforts to enhance Taiwan compatriots’ recognition and positive feelings about the nation.

Xi said authorities must implement a people-centered philosophy in their Taiwan work and provide equal services for Taiwan compatriots and mainland people.

Xi told government authorities to listen to the voices of Taiwan compatriots and put forward policies to benefit the people as much as possible.

In his speech, the president also emphasized poverty alleviation work in the revolutionary bases of Fujian province. Noting that this year marks the 70th anniversary of the founding of the People’s Republic of China, Xi said the people in the revolutionary bases should not be forgotten.

He ordered local governments to take targeted poverty reduction measures to ensure that no one in the revolutionary bases is left behind in the process of building a moderately prosperous society in all respects.

He also stressed the importance of protecting the environment and enhancing Party building in the process of building up the economy in underdeveloped areas.



Enjoyed this story? Share it.


China Daily
About the Author: China Daily covers domestic and world news through nine print editions and digital media worldwide.

Eastern Briefings

All you need to know about Asia


Our Eastern Briefings Newsletter presents curated stories from 22 Asian newspapers from South, Southeast and Northeast Asia.

Sign up and stay updated with the latest news.



By providing us with your email address, you agree to our Privacy Policy and Terms of Service.

View Today's Newsletter Here

Business

Huawei asks US court to overturn ban

The company is suing the FCC, the latest in a series of legal tussles. The legal battle between Huawei Technologies Co and United States government intensified on Thursday. The Chinese tech heavyweight announced a legal challenge to the US Federal Communications Commission, seeking to overturn the latter’s order that bans telecom carriers from buying the company’s equipment via federal subsidies. The move is the latest push by the world’s largest telecom equipment maker to pursue fair competition and treatment amid a slate of restrictions from Washington. Analysts said the FCC ban would have very limited impact on Huawei’s financial performance, but labeling the company as a national security threat would cause far-reaching reputational harm. In a petition filed in the US Court of Appeals for the Fifth Circuit on Thursday, Huawei asked the court to declare the FCC order un


By China Daily
December 6, 2019

Business

Is Vietnam an attractive place for Samsung chip plant?

The tech giant already has manufacturing plants in the country. Is Vietnam a good place for chipmakers to consider building a high-tech plant? In light of a request by the Vietnamese head of state to Samsung Electronics, the world’s largest chipmaker, many in South Korea are asking whether it is a viable business move. In a private meeting held in Seoul on Thursday, Vietnamese Prime Minister Nguyen Xuan Phuc asked Samsung Electronics Vice Chairman Lee Jae-yong to consider building a chip manufacturing facility there. The Korean tech giant already has production plants for mobile phones and other IT devices in the country. Following the re


By The Korea Herald
December 2, 2019

Business

Nepal’s luxury hotels are growing but the rooms are empty

There are 15 five-star hotels in the country, and a dozen more are being planned even as existing hotels continue to report a significant drop in profit. High-end hotels might be proliferating across the country but there aren’t enough guests to fill them up, according to the financial reports of Nepal’s three key five-star institutions. The first quarter financial reports from Taragaon Regency Hotels, Soaltee Hotel and Oriental Hotels, all of which are listed on the Nepal Stock Exchange, showed that profits have taken a nosedive after posting record profits last fiscal year. The first quarter of the fiscal year runs from mid-July to the end of September. The three hotel groups say that unhealthy competition, like price undercutting, a demand-and-supply gap, and a growing number of backpackers are behind the sharp fall in earnings. According to its report, Oriental Hotels, which operates Radi


By The Kathmandu Post
November 21, 2019

Business

Huawei to match Google’s mobile services by Q1 2020

The company to support more Android apps on its phones. Huawei may soon be able to offer Android developers a full range of the essential mobile services required for their apps as the ones provided by Google. This would allow more Android apps to work on new Huawei phones affected by a ban that forbids the use of Google mobile services on these handsets. Mr Zhang Ping’an, president of Huawei Consumer Cloud Service told The Straits Times in an interview at Huawei’s Asia-Pacific Developer Day last Wednesday (Nov 13) that Huawei Mobile Services can “replace 90 per cent of Google Mobile Services by December”. These mobile services from Google and Huawei are used by developers to enable key functions in their mobile apps to, for


By The Straits Times
November 21, 2019

Business

Excessive discounts worked against Nissan Motor profits

The company has been on the back foot since its former CEO was accused of mismanagement. Nissan Motor Co. has reported a massive 85 percent decline in operating profits — an area that indicates the strength or weakness of a company’s main business — in its midterm consolidated financial report for the half fiscal year ending in September. The pursuit of increased sales has harmed profitability, delaying the development of new Nissan models. That in turn has resulted in fewer sales — a vicious cycle the automaker is struggling to escape from. Nissan Motor’s deteriorating business performance may affect its three-way partnership with Renault SA, the French automaker that is its largest shareholder, and Mitsubishi Motors Corp. Failed strategy by Ghosn Nissan Corporate Vice President Stephen Ma, who will become chief financial officer on Dec. 1


By The Japan News
November 14, 2019

Business

US property loses allure for Chinese buyers

Economic factors contribute to falling demand.  Over the past 10 months, Bei Qin, a realtor in Silicon Valley, California, has not had any clients from China, a market that used to be her major source of business. “We had the best business in 2016 and 2017. Every day, we had inquiries from Chinese buyers and every week our WeChat account had more than 10 new subscribers,” said Qin, president of ACEQ Investment Group in Cupertino. “Now those days are gone.” After a decade of increasing investment by wealthy Chinese in residential property purchases in the United States-the biggest proportion of international buyers for seven consecutive y


By China Daily
November 12, 2019