Xi demanded the implementation of policies and measures in six aspects to create a better environment for the development of private enterprises and to address their difficulties, including reducing their burden of taxes and fees, addressing the difficulty and high cost of financing, and leveling the playing field for them.

Policy support has already been stepped up. Late last month, the government decided to facilitate bond issuance by private companies, with liquidity support from the central bank lent to professional institutions.

The People's Bank of China, the country's central bank, announced that it will provide guidance for supporting bond issues of private firms by offering a part of the initial capital to financial institutions, and also increase the quotas of re-lending and rediscounts to ensure that targeted loans can be channeled to private firms.

With the new commitments to supporting the private sector, more favorable policies are expected be rolled out soon.

The difficulties and problems faced by private enterprises are just a natural part of development, and will surely be solved with effective measures.

As private companies and entrepreneurs are once again reassured by central authorities, their potential is to be further unleashed while China's economic strength is to be further improved.

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