Nonpublic sector still indispensable

Some recent irresponsible comments suggesting it is time for the nonpublic sector to be incorporated into the public economy have understandably spooked private entrepreneurs.

But there is no reason for them to be concerned, as the top leadership has made clear that the country will continue to support the nonpublic economy.

There is no doubt that private enterprises have been feeling the pain due to the country's ongoing economic restructuring and the US onslaught on the Chinese economy. But speaking at a meeting with private entrepreneurs on Thursday, Xi Jinping, general secretary of the Communist Party of China Central Committee, pledged that the country will help the private economy with tax cuts and financing facilitation policies. And he reiterated that the property of private entrepreneurs will be protected.