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Premier Li encourages entrepreneurship, innovation and business honesty

Updated: Dec 5,2016 8:52 PM

Premier Li Keqiang has called for entrepreneurship, innovation, and honesty from private businesses during a meeting with business leaders honored for their outstanding performance.

At an event in Beijing on Dec 5, Premier Li extended his congratulations on behalf of the government to individual entrepreneurs and the China Private-Owned Business Association which is celebrating its 30th anniversary of establishment.

As an important part of the socialist market economy, non-public sectors provide nearly 40 percent of jobs in the country and play a significant role in boosting the market and creating wealth, he said.

The government has been carrying out a series of policies to boost the private economy including streamlining administration and delegating power to lower-level governments, optimizing regulation and services, and improving protection on property rights.

The Premier said that he hoped private businesses will participate in mass entrepreneurship and innovation, provide more jobs, keep the spirit of entrepreneurship and craftsmanship, and focus on business honesty and product quality.

Premier Li said individual workers, private enterprises and institutions have acted as a bridge for the government to better connect with the private business elites.

Therefore, he added, the government could adapt to the new market environment by constantly upgrading its mechanism to better serve the market and enterprises, and ensure the healthy development of privately-owned business in a self-disciplined market.

The Premier emphasized that the government should strive to fully implement policies and measures that encourage the development of non-public sectors and create a fair and transparent business environment by deepening reform and improving supervision and services.

The government should eliminate unreasonable restrictions on market access, cut the institutional transaction cost and create an easier financing environment to further stimulate market vitality and promote a joint development of diverse forms of ownership, he said.