In a comprehensive government work report submitted to the national legislature on Wednesday, China outlined its commitment to invigorate market entities and solidify the public sector. Delivered by Chinese Premier Li Qiang at the opening meeting of the third session of the 14th National People's Congress in Beijing, the report highlights a series of strategic measures aimed at fostering a fairer and more dynamic market environment.
Premier Li emphasized the continuation of deepening state-owned enterprise (SOE) reform. This includes refining the layout and adjusting the structure of the state-owned sector, as well as accelerating the establishment of a system to assess SOE performance in fulfilling their strategic missions. These reforms are intended to enhance the efficiency and effectiveness of public enterprises, ensuring they meet national objectives.
To spur the growth of the private sector, the Chinese government plans to actively implement policies and measures that support its development. This includes effectively protecting the lawful rights and interests of private enterprises and entrepreneurs, and encouraging these businesses to establish and refine modern corporate systems. By creating a supportive environment, the government aims to unlock the full potential of the private economy.
Addressing financial challenges faced by businesses, the government has pledged to take stronger punitive actions against those who delay payments to enterprises. Additionally, long-term mechanisms will be introduced to ensure overdue payments are settled promptly. Regular communication with enterprises will be maintained to help resolve practical difficulties and issues, fostering a collaborative relationship between the government and the business community.
Furthermore, special initiatives will be launched to regulate enterprise-related law enforcement. The focus will be on tackling arbitrary charges, fines, inspections, and seizures, ensuring that law enforcement actions are authorized and not driven by profit motives. The report also promised resolute steps to prevent unauthorized cross-jurisdictional and profit-driven law enforcement, while promoting service-oriented administration to boost the confidence of enterprises through satisfactory services.
Overall, the report underscores China's dedication to creating a balanced and thriving economic landscape by consolidating the public sector and energizing the private economy. These measures reflect the nation's ongoing efforts to play a dynamic and influential role in global affairs.
