Pri­vate busi­nesses find re­as­sur­ance in pledges

China Daily (USA) - - CHINA INTERNATIONAL IMPORT EXPO - In Shang­hai jing­shuiyu@chi­

The po­ten­tial of the pri­vate econ­omy will be fur­ther un­leashed as Chi­nese con­sumer de­mand is up­graded.”

vice-pres­i­dent of the China Cen­ter for In­ter­na­tional Eco­nomic Ex­changes

Re­as­sured by pledges of en­hanced sup­port by cen­tral gov­ern­ment au­thor­i­ties, pri­vate Chi­nese com­pa­nies dis­played their in­creas­ing ca­pa­bil­i­ties at the on­go­ing China In­ter­na­tional Im­port Expo in Shang­hai.

The expo “fa­cil­i­tates global channels for us in di­rect pur­chases”, said Yu Ruifen, founder and CEO of the pri­vate re­tailer Shang­hai Laiy­ifen Co. “Thus we can pro­vide Chi­nese con­sumers with more au­then­tic cui­sine from around the world.”

On Thurs­day, the re­tailer’s sub­sidiary, Youngme, which ex­clu­sively of­fers im­ported foods, reached a 100-mil­lionyuan ($14.4 bil­lion) pur­chase op­tion agree­ment with an Aus­tralian food com­pany.

Yu said at the cer­e­mony that the com­pany’s sound growth can be at­trib­uted to China’s con­tin­ued openingup and its sup­port of the pri­vate sec­tor.

In early Novem­ber, Pres­i­dent Xi Jin­ping pledged at a meet­ing with pri­vate en­trepreneurs to unswerv­ingly en­cour­age, sup­port and guide the de­vel­op­ment of the non­pub­lic sec­tor, and sup­port pri­vate en­ter­prises to move to­ward a big­ger stage.

En­cour­aged by the pledge, a num­ber of pri­vately run busi­nesses not only show­cased their pur­chas­ing power at the expo but also took the plat­form as an op­por­tu­nity to dis­play their lead­ing tech­nolo­gies and high-qual­ity ser­vices.

Fo­sun In­ter­na­tional, the Shang­hai-based pri­vate con­glom­er­ate, ex­hib­ited a sur­gi­cal ro­bot in­vented by its over­seas af­fil­i­ate. The sys­tem en­ables a sur­geon to re­motely con­trol a ro­bot arm by sit­ting at a con­sole and ex­am­in­ing three-di­men­sional im­ages.

Guo Guangchang, chair­man of Fo­sun, said China’s fa­vor­able busi­ness mea­sures Wei Jian­guo, will help solve the core prob­lems that pri­vate busi­nesses are cur­rently en­coun­ter­ing, and in­ject new vi­tal­ity into the pri­vate econ­omy.

Zhang Jin­dong, chair­man of Sun­ing Hold­ings Group, a lead­ing Chi­nese re­tailer, said that as China’s re­form and open­ing-up poli­cies ad­vance, pri­vate com­pa­nies will gain the con­fi­dence and ca­pa­bil­ity to create more eco­nomic and so­cial value, as well as to sup­port the coun­try’s on­go­ing con­sump­tion and in­dus­trial up­grade.

Dur­ing the expo, Sun­ing plans to ar­range for the im­port of at least 5,000 kinds of prod­ucts and ser­vices that have not been sold in the do­mes­tic mar­ket.

Se­nior Chi­nese lead­ers have de­clared that the pri­vate sec­tor has been an in­dis­pens­able force driv­ing the coun­try’s de­vel­op­ment over sev­eral decades. Pri­vate com­pa­nies con­trib­uted 60 per­cent of GDP growth and 90 per­cent of new jobs and new firms, ac­cord­ing to the All-China Fed­er­a­tion of In­dus­try and Com­merce.

Wei Jian­guo, vice-pres­i­dent of the China Cen­ter for In­ter­na­tional Eco­nomic Ex­changes, said: “The po­ten­tial of the pri­vate econ­omy will be fur­ther un­leashed as Chi­nese con­sumer de­mand is up­graded. The gov­ern­ment has spared no ef­fort to set up a fair and trans­par­ent busi­ness en­vi­ron­ment.” Shi Jing con­trib­uted to this story.


A vis­i­tor re­acts to jets of wa­ter shot by Ti­tan the Ro­bot at the United King­dom’s booth dur­ing the China In­ter­na­tional Im­port Expo in Shang­hai on Thurs­day.

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