Entrepreneurs and officials of private companies in Shanghai have voiced strong confidence in China’s economy during the ongoing “two sessions” in Beijing.
China has announced that it will continue to encourage and support the development and growth of the private sector during this year’s sessions, which refer to the annual meetings of the National People’s Congress, the country’s national legislature; and the National Committee of the Chinese People’s Political Consultative Conference, the top political advisory body.
In the government work report presented to the sessions, Premier Li Keqiang noted the continued state support for the development of small, medium and micro enterprises as well as individual-owned businesses.
“The central government has released a large swathe of supportive policies, while market demand is also recovering,” said Ding Zuohong, a political advisor and chairman of Yuexing Group.
“These measures and remarks give us full confidence and allow us to concentrate on the development of our companies,” he told China Central Television in an interview.
“President Xi Jinping encouraged us to develop bravely and said the government will always lend a hand whenever we encountered any difficulty,” Ding added.
Yuexing Global Harbor, known as the biggest shopping mall in Shanghai’s downtown, has been attracting hordes of customers since the Spring Festival holiday in February, according to the group.
On weekends, long lines of customers wait outside the popular eateries at the Putuo District mall, lifting its business volume by over 30 percent year on year.
“After experiencing the cold winter, the Chinese economy has welcomed a promising year in 2023,” said Zhou Hanmin, another political advisor and dean of Shanghai Institute of Socialism.
More than 2.25 million new market entities have been set up in Shanghai in the last five years. By the end of 2022, the number of enterprises per thousand people in Shanghai had risen to 111.1, ranking first domestically.
The local government has released nearly 1,000 reform measures to improve the city’s business environment. Shanghai’s official e-governance platform, Government Online-Offline Shanghai, had integrated nearly 3,600 services and processed 2.97 million applications as of early this year.
“If the market entities are seeds, the business environment is the spring. The seeds will definitely become fruits under the good weather,” Zhou said in his proposal.