The private economy plays a key role in promoting steady growth, innovation and employment as well as improving people's wellbeing, and has become an important driving force for social and economic development, he said.

The private economy's historic contributions are indelible and its position and functions should not be doubted, Xi said. "Any word or act to deny or weaken the private economy is wrong."

Supporting the development of private enterprises has been a consistent principle of the CPC Central Committee, which will be unwaveringly implemented, he stressed.

"I hope that private entrepreneurs will grasp the trend of the era, have firm confidence in development, innovate and create without being distracted, and work in a down-to-earth way in developing their businesses, to jointly create a better tomorrow for the private economy, and make greater contributions to realizing the Chinese Dream of national rejuvenation," Xi said.

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