Institutional support vital for private entrepreneurs

THE COUNTRY will inspire and protect entrepreneurship, and encourage more people to start businesses, General Secretary Xi Jinping said in his report to the 19th National Congress of the Communist Party of China. Beijing News commented on Sunday:

This was the first time the term "private enterprises" was mentioned in a Party Congress report signaling full recognition of the value of non-State enterprises.

It is worth noting that non-State market players have been given more chances to compete on a level playing field in the past five years, thanks to the introduction of a negative list approach and the deepening reform of State-owned enterprises. And special guidelines have been enacted to safeguard entrepreneurship and entrepreneurs' property rights.