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Meeting the Press
Cover Stories Series 2011> NPC & CPPCC Sessions Wrap-Up> Meeting the Press
UPDATED: March 21, 2011 NO. 12 MARCH 24, 2011
Premier Wen Meets the Press

Non-public economy

Our policy in this field is that we will unswervingly consolidate and develop the public sector of the economy, and at the same time, unswervingly support, encourage and guide the development of the non-public sector of the economy.

In 2005, the State Council formulated the "36 Guidelines" on encouraging and supporting the development of the non-public sector. Last year, we introduced the "New 36 Guidelines" on encouraging and supporting the non-governmental investment. Policy supports are already large in number.

We will treat all enterprises of different ownerships as the same in terms of law and policy including fiscal, taxation, financial and marketing access policies and measures. We encourage these different economic entities to compete with each other and reinforce each other in their development.

So why do some private enterprises still feel that prospects are depressing and why do they feel that the problems of so-called "glass door" and "spring door" (invisible or visible barriers in their development)? I think it is mainly down to problems in implementation. Actually the "New 36 Guidelines" can be seen as a supplement to the first set of "36 Guidelines," because they spell out policy arrangements and market access in more detail. We are now formulating detailed rules for the implementation of the "New 36 Guidelines," and I believe these two documents will help boost the development of the non-public sector.

I don't think we have the problem that state-owned enterprises forge ahead while privately-held enterprises fall behind. Nor do we have the opposite problem in China. In the past 30 years and more of reform and opening up, we should recognize that big development has been achieved in both the public sector and non-public sector of the Chinese economy. I don't want to spend too much time talking about the public sector at the press conference today.

I'd like to point out that now the private investment has accounted for over 50 percent in the total fixed assets investment nationwide. In the development of industries in China, those privately-held enterprises have been growing faster than their state-owned counterparts in terms of the number of the businesses, their output value, total assets and payrolls. This is a fact that we must recognize.

The proportion of the public sector in the total economy is declining. However, the public sector is still the lifeline of the national economy. The state-owned enterprises are now deepening their reform. They have established a modern corporate management system through joint-stock transformation and introduced non-governmental capital and investment. All these are in the interest of the healthy development of the public sector.

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