Xi Jinping Urges Private Sector to Boost Entrepreneurship

Yo, check it out! President Xi Jinping just dropped some knowledge on the private sector in China. He’s all about promoting entrepreneurship and building a strong country. Xi, who’s also the head honcho of the Communist Party of China, sent a letter to the All-China Federation of Industry and Commerce, giving them props on their 70th anniversary. This federation is all about supporting nonpublic enterprises and privately owned businesses. Xi wants them to play a bigger role in boosting confidence in the private sector and uniting everyone around the Party. He’s hoping that people in the private sector will become role models by loving the country, following the law, and being innovative. At a celebration event, another big shot, Wang Huning, said the federation needs to work harder to help private businesses develop and fulfill their social responsibilities. Private businesses are a big deal in China, making up over 90% of all enterprises. So, let’s see how the private sector steps up and makes some moves!