Market, not government, must decide the future of SOEs and private firms

GIVEN THE SLOWER ECONOMIC GROWTH, people are debating whether China should divert more resources and energy from supporting the development of private businesses to shoring up State-owned enterprises. Guangming Daily comments:

To some people, private and public economies seem antagonistic, as many argue that the private sector has fulfilled its "historical mission" over the past 40 years and therefore it should exit the national economy. Which is against the spirit of the Constitution that fully recognizes the legitimacy, necessity and importance of the private economy.

It is true that some private enterprises face difficulties caused by both internal and external factors, especially those in the middle and lower rungs of the industrial chain, and China is seeking to strike a new dynamic balance in its economic and industrial structures.