China's economic planner holds symposium to hear from private firms

BEIJING -- China's top economic planner on Wednesday held a symposium for private enterprises to gather opinions on current economic conditions and the implementation of policies on stabilizing employment and growth.

Attendees shared insights on industry performance and proposed measures to support the high-quality development of private businesses at the symposium, which was chaired by Zheng Shanjie, head of China's National Development and Reform Commission (NDRC).

Private firms acknowledged enhanced resilience against external risks, emphasizing their focus on innovation, market diversification and stable operations.

Despite challenges, participants expressed confidence in their long-term prospects. They highlighted the introduction of the private sector promotion law as a milestone bolstering legal safeguards for the sector.

Suggestions included prioritizing private-sector support in the upcoming 15th Five-Year Plan (2026-2030).

Zheng stressed the need to align macro policies with micro-level business needs, pledging to improve regular government-business communication mechanisms.

He pledged to expedite policy implementation and address sector-specific challenges to stabilize employment, businesses and market expectations.

The NDRC will advance the drafting of the 15th Five-Year Plan and ensure the effective roll-out of policies supporting private enterprises, he added.