Policies to boost private economy

The entrepreneurial and innovative flame will burn bright in China as the country's top leadership pledged to continue offering private companies assistance, such as removing the tax burden and solving financing issues, said a top executive of one of the nation's largest retailers by revenue.

Zhang Jindong, chairman of Suning Holdings Group Ltd, said with the deepening of China's reform and opening-up policy, private companies have the confidence and capability to create more economic and social value, as well as to support the country's ongoing consumption and industrial upgrading.

His comments came after President Xi Jinping, at a meeting on Nov 1, called for providing more support for the non-public sector, including building a fairer competitive environment and safeguarding private enterprises and their wealth.