Chinese Jinping commends private sector’s role in boost economic growth

President Xi Jinping said Monday that China's private sector has played an important role in bolstering economic growth, promoting innovation, creating jobs

Chinese Jinping commends private sector’s role in boost economic growth

President Xi Jinping said Monday that China's private sector has played an important role in bolstering economic growth, promoting innovation, creating jobs

22 January 2018 Monday 15:38
Chinese Jinping commends private sector’s role in boost economic growth

By Azania Post Reporter

CHINESE government has said its private sector has observed a boom in growth after forty years policy reform and opening up was implemented.

President Xi Jinping said Monday that China's private sector has played an important role in bolstering economic growth, promoting innovation, creating jobs, and improving people's wellbeing over the past four decades.

He made the remarks in a congratulatory letter to the fifth national congress of self-employed individuals.

According to Xinhua China's private sector has witnessed a boom in growth since the policy of reform and opening up was implemented 40 years ago and has become an important part of the economy.

Statistics show that at the end of 2017, there were 65.79 million individually-owned businesses and more than 27.26 million private enterprises, which employed 341 million people.

Private enterprises and the individually-owned businesses should carry forward entrepreneurship, stick to the real economy, and carry out high-quality development, Xi said.

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