Opinions of the Central Committee of the Communist Party of China and the State Council on Promoting the Development and Growth of Private Economy

Opinions of the Central Committee of the Communist Party of China and the State Council on Promoting the Development and Growth of Private Economy

(July 14, 2023)

The private economy is a new force to promote Chinese path to modernization, an important foundation for high-quality development, and an important force to promote China to build itself into a socialist modernization power in an all-round way and achieve the second century goal. In order to promote the development and growth of the private economy, the following opinions are proposed.

1、 Overall requirements

Optimize the development environment of the private economy, protect the property rights of private enterprises and the rights and interests of entrepreneurs in accordance with the law, comprehensively build a pro Qing government business relationship, ensure that all forms of ownership of the economy use production factors equally in accordance with the law, participate in market competition fairly, and receive equal legal protection, guide private enterprises to continuously improve the quality of development through self reform, development, compliant operation, transformation and upgrading, and promote the growth, optimization, and strength of the private economy, Make positive contributions in the new journey of comprehensively building a socialist modernized country, shoulder greater missions, shoulder greater responsibilities, and play a greater role in the historical process of the great rejuvenation of the Chinese nation.

2、 Continuously optimizing the development environment of private economy

Build a high-level socialist market economy system, continuously optimize a stable, fair, transparent and predictable development environment, and fully stimulate the vitality of the private economy.

（1） Continuously breaking down market access barriers. Each region and department shall not set or indirectly set access barriers in the form of filing, registration, annual inspection, recognition, certification, designation, or requirement to establish branches. Clear and standardize the pre conditions and approval standards for government service matters such as administrative approval, licensing, and filing. Government service matters shall not be converted into intermediary service matters. Without legal and regulatory basis, enterprises shall not be required to conduct self testing, inspection, certification, appraisal, certification, or provide proof before government service. Steadily carry out market access efficiency evaluation, establish a complaint and response mechanism for market access barriers, and improve the system for collecting and reporting typical cases.

（2） Fully implement the fair competition policy system. Strengthen the fundamental position of competition policy, improve the framework of fair competition system and policy implementation mechanism, and adhere to the principle of treating all types of ownership enterprises equally and equally. Strengthen anti monopoly law enforcement to prevent the abuse of administrative power and eliminate competition restrictions. Without fair competition, operators shall not be granted franchise rights, and shall not limit the operation, purchase, or use of goods and services provided by specific operators. Regularly launch a negative list of market intervention behaviors, and promptly clean up and abolish policies that hinder unified markets and fair competition, such as local protection, market segmentation, and designated transactions. Optimize and improve the implementation methods of industrial policies, establish a list of preferential policies for enterprises, and promptly disclose it to the public.

（3） Improve the social credit incentive and constraint mechanism. Improve the credit information recording and sharing system, comprehensively promote the credit commitment system, and include commitment and performance information in credit records. Give full play to the role of credit incentive mechanism to enhance the sense of gain for enterprises with good credit. Improve the credit constraint mechanism, and punish responsible parties in accordance with the list of dishonest punishment measures in accordance with the law and regulations. Improve the credit repair mechanism after correcting dishonest behavior, and study and introduce relevant management measures. Improve the mechanism for government integrity performance, establish and improve the record and punishment system for government dishonesty, and incorporate dishonest information such as breach of contract, overdue payments, and refusal to fulfill judicial judgments from government agencies and public institutions into the national credit information sharing platform.

（4） Improve the market-oriented restructuring mechanism. Encourage private enterprises to revitalize existing assets and recover funds. Adhere to precise identification and classification of policies, and actively apply bankruptcy restructuring and settlement procedures to enterprises that are in financial difficulties but still have development prospects and salvage value, in accordance with the principles of marketization and rule of law. Promote the revision of the Enterprise Bankruptcy Law and improve supporting systems. Optimize policies related to the conversion of individual industrial and commercial households to enterprises, and reduce conversion costs.

3、 Increase policy support for private economy

Accurately formulate and implement various support policies, improve policy implementation methods, strengthen policy coordination, timely respond to concerns and interest demands, and effectively solve practical difficulties.

（5） Improve financing support policies and systems. Establish a market-oriented financing risk sharing mechanism involving banks, insurance, guarantees, securities firms, and other parties. Improve the credit rating and evaluation system for small and medium-sized enterprises and individual businesses, strengthen the collection of enterprise credit information, and promote service models such as "Xinyi Loan". Support eligible private small and medium-sized enterprises to raise funds in the bond market, encourage eligible private enterprises to issue technology innovation company bonds, and promote the special support plan for private enterprise bond financing to expand coverage and enhance credit enhancement efforts. Support eligible private enterprises to go public for financing and refinancing.

（6） Improve the normalized prevention and clearance mechanism for overdue accounts. Strictly implement the "Regulations on Ensuring Payment of Funds for Small and Medium sized Enterprises", improve the long-term mechanism for preventing and resolving outstanding accounts of small and medium-sized enterprises, and increase the accountability and punishment of responsible persons in accordance with the law and regulations. Government agencies, public institutions, and large enterprises are not allowed to refuse or delay payment to small and medium-sized enterprises and individual businesses on the grounds of changing internal personnel, fulfilling internal payment procedures, or waiting for completion acceptance approval, final accounting audit, etc. in the absence of agreement in the contract. Establish a system of regular disclosure, advice and guidance, and proactive law enforcement for overdue accounts. Strengthen the disclosure of commercial bill information and improve the credit constraint mechanism of the bill market. Improve the complaint handling and credit supervision mechanism for overdue payments, and strengthen the exposure of malicious cases of overdue payments. Improve the regular docking mechanism for clearing overdue accounts and auditing, supervision, and inspection systems.

（7） Strengthen the guarantee of talent and employment needs. Smooth channels for talent flow to private enterprises, and improve policy mechanisms for personnel management, archive management, and social security. Improve the professional title evaluation methods for private enterprises, smooth the channels for professional title evaluation of private enterprises, and improve the professional title evaluation standards guided by market evaluation. Establish a platform for connecting employment information for private enterprises, individual businesses, and workers. Vigorously promote school enterprise cooperation and integration of industry and education. Promote the construction of a workforce in private economy industries and optimize the career development environment. Strengthen the protection of flexible employment and the rights and interests of workers in new forms of employment, and leverage the role of platform enterprises in expanding employment.

（8） Improve the support policy for direct and fast access mechanisms. Give full play to the role of the direct access mechanism for financial funds, and promote the direct access and quick sharing of funds related to enterprises. Increase the transparency of subsidy funds for enterprises and accept social supervision. Establish a support policy "no application, no enjoyment" mechanism for private small and medium-sized enterprises and individual businesses, promote the notification commitment system, and relevant departments can extract materials through public data platforms without requiring duplicate provision.

（9） Strengthen policy communication and expected guidance. Perform the procedures for adjusting policies related to enterprises in accordance with the law and regulations, and set a reasonable transition period based on the actual situation. Strengthen policy release and interpretation guidance directly targeting private enterprises and individual businesses. Support government departments at all levels to invite outstanding entrepreneurs for consultation, and fully leverage the role of entrepreneurs in the formulation and evaluation of enterprise policies, plans, standards, and other aspects.

4、 Strengthening the Legal Guarantee for the Development of Private Economy

Improve the legal environment for equal protection of various types of ownership economies, and create good and stable expectations for the development of private economy.

（10） Protect the property rights of private enterprises and the rights and interests of entrepreneurs in accordance with the law. Prevent and correct the use of administrative or criminal means to intervene in economic disputes, as well as local protectionism in law enforcement and justice. Further standardize mandatory measures related to property rights, and avoid exceeding authority, scope, amount, and time limit to seal and seize frozen assets. For business related property that is not suitable for seizure, seizure, and freezing, while ensuring the normal progress of investigation activities, relevant parties can continue to use it reasonably and take necessary measures to maintain its value and minimize the impact of investigation and handling on normal office work and legitimate production and operation. Improve the mechanisms for appeal and retrial of enterprise related cases, and improve the mechanisms for effective prevention and normalized correction of wrongful cases.

（11） Establish a system and mechanism for preventing and governing corruption at the source of private enterprises. Introduce judicial interpretations and increase the punishment of corrupt behaviors such as embezzlement, misappropriation of funds, and bribery by private enterprise staff in accordance with the law. Improve the mechanism for recovering and disposing of property involved in the case. Deepen the compliance reform of the enterprises involved in the case, and promote the compliance and law-abiding operation of private enterprises. Strengthen the governance of the source of corruption in private enterprises, and guide them to establish a strict audit supervision system and financial accounting system. Fully leverage the role of party organizations in private enterprises, promote the strengthening of legal education in enterprises, and create a corporate culture of integrity and integrity. Establish a corruption governance mechanism for private enterprises with diverse subject participation. Promote the construction of legal and clean private enterprises.

（12） Continuously improve the intellectual property protection system. Strengthen the protection of original innovation for private small and medium-sized enterprises. Strictly implement systems such as punitive damages for intellectual property infringement and behavior preservation. Establish a rapid processing mechanism for intellectual property infringement and administrative non litigation enforcement, and improve the cross regional jurisdiction system of intellectual property courts. Research and improve intellectual property protection measures for innovative achievements such as business improvement and cultural creativity, and severely crack down on unfair competition behaviors such as infringement of trade secrets, counterfeiting and confusion, as well as illegal behaviors such as malicious trademark registration. Intensify the criminal crackdown on intellectual property infringement and criminal activities. Improve the guidance mechanism for responding to overseas intellectual property disputes.

（13） Improve the regulatory and law enforcement system. Strengthen the construction of regulatory standardization and standardization, publicly disclose regulatory standards and rules in accordance with the law, and enhance the stability and predictability of regulatory systems and policies. Improve regulatory fairness, standardization, and simplicity, eliminate selective law enforcement, and allow enterprises to self prove their innocence through supervision. Encourage cross administrative regions to jointly release unified regulatory policies, regulations, and standards in accordance with regulations, and carry out coordinated law enforcement. According to the principle of combining education with punishment, we will implement law enforcement methods such as notification, reminder, and persuasion. For those who violate the law for the first time and have minor harmful consequences and make timely corrections, administrative penalties will not be imposed in accordance with the law.

（14） Improve the long-term supervision mechanism for enterprise related fees. Continuously improve the government pricing system for enterprise related fee lists, conduct regular publicity, and accept supervision from enterprises and society. Smooth channels for complaint and reporting of illegal fees related to enterprises, establish a standardized mechanism for sharing and transferring problem clues among departments, comprehensively implement joint punishment through market supervision, industry supervision, credit supervision, and other means, and publicly expose typical cases of illegal fees.

5、 Focus on promoting high-quality development of the private economy

Guide private enterprises to practice new development concepts, deeply grasp existing shortcomings and challenges, transform development methods, adjust industrial structure, transform growth drivers, adhere to their main business, strengthen industries, and consciously take the path of high-quality development.

（15） Guide the improvement of governance structure and management system. Support and guide private enterprises to improve their corporate governance structure, regulate shareholder behavior, strengthen internal supervision, achieve standardized governance, effective checks and balances, and operate in compliance. Encourage qualified private enterprises to establish and improve a modern enterprise system with Chinese characteristics. Promote the separation of corporate property from the personal or family property of investors in accordance with the law, and clarify the ownership structure of enterprises. Research and construct a risk assessment system and warning mechanism to provide early warning for situations that seriously affect enterprise operations and may trigger social stability risks. Support private enterprises to strengthen risk prevention and management, guide the establishment of a comprehensive risk management system covering various fields such as enterprise strategy, planning, investment and financing, and market operation, and enhance quality management awareness and capabilities.

（16） Support the improvement of technological innovation capabilities. Encourage private enterprises to continuously increase research and development investment, carry out key core technology breakthroughs, and actively undertake major national science and technology projects in accordance with national strategic needs and industry development trends. Cultivate a group of private technology leading enterprises in key industries, specialized and innovative small and medium-sized enterprises, and characteristic industrial clusters of small and medium-sized enterprises with strong innovation capabilities. Increase government procurement of innovative products, leverage the role of the first insurance compensation mechanism, and support the iterative application of innovative products by private enterprises. Promote the integration and innovation of enterprises with different ownership systems, large and small enterprises, and carry out joint research on common technologies. Improve the management system and achievement transformation mechanism of higher education institutions and research institutes, mobilize their enthusiasm for supporting the innovative development of private small and medium-sized enterprises, and support the cooperation between private enterprises and research institutions to establish innovation platforms such as technology research and development centers, industrial research institutes, pilot plants, engineering research centers, and manufacturing innovation centers. Support private enterprises to strengthen basic and cutting-edge research and result transformation.

（17） Accelerate the promotion of digital transformation and technological transformation. Encourage private enterprises to carry out research and development of digital common technologies, participate in the investment, construction, and application innovation of new infrastructure such as data centers and industrial internet. Support the digital transformation of small and medium-sized enterprises and promote the promotion and application of low-cost, modular intelligent manufacturing equipment and systems. Guide private enterprises to actively promote standardization construction and improve product quality level. Support private enterprises to increase their efforts in green and low-carbon transformation of production processes, equipment, and technology, accelerate the development of flexible manufacturing, enhance emergency expansion and production capacity, and enhance the resilience of the industrial chain.

（18） Encourage the improvement of international competitiveness. Support private enterprises to actively extend their focus to the design and development of core components and high-end manufactured products based on their own reality; Strengthen brand building and enhance the reputation of "Made in China". Encourage private enterprises to expand overseas business, actively participate in the joint construction of the "the Belt and Road", orderly participate in overseas projects, comply with local laws and regulations and fulfill social responsibilities in going global. Better guidance and support for private enterprises to prevent and respond to external challenges such as trade protectionism, unilateralism, and "long arm jurisdiction". Strengthen departmental collaboration and cooperation, establish a risk prevention and resolution cooperation mechanism for the personal and property safety of private economic personnel overseas.

（19） Support participation in major national strategies. Encourage private enterprises to voluntarily expand employment and improve wage distribution systems to enhance the level of employees' enjoyment of the achievements of enterprise development. Support private enterprises to invest in the development of labor-intensive manufacturing, equipment manufacturing, and ecological industries in the central, western, and northeastern regions, promote the accelerated development of revolutionary old areas and ethnic minority areas, and invest in the construction of border areas to promote the prosperity of the border and the people. Support private enterprises to participate in promoting carbon peak and carbon neutrality, provide carbon reduction technologies and services, increase investment in renewable energy generation and energy storage, and participate in carbon emission and energy use rights trading. Support the participation of private enterprises in rural revitalization, promote the development of modern farming and breeding industry as new agricultural business entities and socialized service organizations, develop high-quality modern agricultural product processing industry, develop modern agricultural service industry according to local conditions, strengthen characteristic industries such as leisure agriculture and rural tourism, and actively participate in the "Ten Thousand Enterprises Revitalizing Ten Thousand Villages" initiative. Support the participation of private enterprises in comprehensively strengthening infrastructure construction, and guide private capital to participate in major projects such as new urbanization, transportation and water conservancy, as well as the construction of complementary areas.

（20） Standardize and guide the healthy development of private capital in accordance with the law. Establish a sound legal system to regulate and guide the healthy development of private capital, establish "traffic lights" for capital, improve the rules of capital behavior system, and centrally launch a batch of "green light" investment cases. Comprehensively improve the efficiency of capital governance, enhance capital regulatory capabilities, and modernize the regulatory system. Guide the development of the platform economy towards openness, innovation, and empowerment, fill the gaps and weaknesses in development, support platform enterprises to showcase their skills in creating employment, expanding consumption, and international competition, and promote the standardized, healthy, and sustainable development of the platform economy. Encourage private enterprises to focus on strengthening and optimizing their main businesses, and enhance their core competitiveness.

6、 Promoting the Healthy Growth of Private Economy Individuals

Fully implement the principles of trust, unity, service, guidance, and education, use practical measures to stabilize, inspire, and unite people's hearts, and guide private economic professionals to promote the entrepreneurial spirit.

（21） Improve the mechanism for ideological and political construction of private economic figures. Actively and steadily carry out the work of recruiting party members among advanced representatives of the private economy. Deepen the education of ideals and beliefs