Only the fittest private firms can seize future opportunities

The important speech President Xi Jinping delivered at a symposium on Nov 1 indicates that the private economy has new development opportunities.

As China's economy steps into an era of high-quality development, Xi's speech will prompt governments and departments at all levels to make policies that will help build a good business environment. With the consumption structure upgrading expected to drive economic development in an all-round way, coordinated development of urban and rural areas will create new opportunities for the private economy. The likely increase in domestic demand and the leadership's determination to further open up China's economy to the outside world will also create opportunities for the private economy.

Since private enterprises face many challenges today, whether they can seize the opportunities depends on their capability to turn challenges into opportunities.