Measures to boost confidence of private enterprises

The National Development and Reform Commission rolled out 28 measures to promote the private sector on Tuesday. They aim to guarantee private enterprises fair market access, equal channels to production factors, rule-of-law protection, optimized government services and an improved business environment. The NDRC also made it clear which departments are in charge of carrying the measures out as well as the deadlines and result assessment methods so as to ensure the measures can be properly put into practice.

In terms of promoting fair market access, the document even clearly specifies the fields in which the government should actively welcome the participation of private investment and enterprises — industrial software, cloud computing, artificial intelligence, the industrial internet, gene and cell medical care, and new energy storage. In fact, with their strengths in technology and data application, private companies have already played an important role in these areas. To further engage them in the major scientific and technological researches of the country can greatly boost the ability and efficiency of the national science and technology research projects, helping the country make breakthroughs in some key areas where it remains dependent on foreign technology or equipment.

On the whole, the 28 measures are all relevant to resolving the practical difficulties and concerns of private enterprises, and are conducive to breaking domestic market and industry barriers and creating an institutional environment for fair competition.

As the major taxpayer, job creator and innovator, the importance of the private sector to the country cannot be exaggerated. The number of private enterprises hit nearly 51 million as of the end of May, accounting for 92.4 percent of the total number of enterprises in the country. The two figures were 10.86 million and 79.4 percent respectively in 2012.

However, it must be seen that private enterprises are still confronted with many problems. Governments at various levels need to take more concrete actions to cut rubber stamps, ease tax and fee burdens, make financing easier and nondiscriminatory, and strengthen intellectual property rights protection so as to enhance the entrepreneurs' confidence in the future.