(China Economic Roundtable) Chinese modernization offers opportunities to private businesses: Official

BEIJING, Nov. 13 - Chinese modernization will provide multiple opportunities for the development of the country's private economy, an official with the country's top economic planner told the China Economic Roundtable hosted by Xinhua News Agency.

China Economic Roundtable is an all-media talk platform launched by Xinhua, with the second episode featuring the Chinese private economy.

The fundamentals of China's sound economic development in the long run remain unchanged, and the private sector, as a new driving force for Chinese modernization, has also sustained a long-term upturn, said Wei Dong, head of the bureau for private economy development under the National Development and Reform Commission.

Private firms are fully capable of seizing new opportunities generated by global industrial structural and distribution adjustments. They can also embark on high-quality development by transforming the development pattern, adjusting industrial structure and creating new growth drivers, Wei said.

The country released a guideline earlier this year that sends clear signals of intent to help the private sector thrive, said Wei, adding that the sector will shoulder greater responsibilities and play an even more important role in advancing the rejuvenation of the Chinese nation.

Regarding Chinese private companies' global competitiveness, the bureau will shortly organize a symposium to solicit advice from such companies and help them improve risk prevention capabilities, said the official.

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