Private enterprises not leaving the stage

A widely circulated article on the internet, which asserts "the private sector has completed its task of assisting the development of the public economy and therefore should gradually exit the economy", has triggered heated discussions online. But a closer scrutiny would reveal the author turns a blind eye to China's economic reality.

China's economic history is proof that the private economy is a historical choice the country has made. The 15th National Congress of the Communist Party of China in 1997, for the first time, explicitly said that "the non-public sector is an important part of China's socialist market economy", and confirmed "the joint development of the multi-ownership economy with the public sector as the main player" would be a priority in the primary stage of socialism.

This shows the private economy is the result of the theoretical explorations of several generations of Chinese leaders, and an informed choice China has made.