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Xinhua Editorial Calls for Private Enterprises to Have Confidence in China’s Economy

After admitting that the economy is facing downward pressure, Beijing began to speak to private enterprises through its official media. The People’s Daily published an editorial claiming that private enterprises must first “enhance confidence in China’s economy” so as “to overcome difficulties and achieve greater development.”

The article, titled, “Strengthening Confidence in China’s Economic Development,” states that “the confidence of certain victory” comes from the “many favorable conditions” of China’s economic development and comes from “the strong leadership of the Chinese Communist Party and its ability to control the overall situation of the economy.”

The article points out that, domestically, with a market of 1.3 billion people, China has enormous resilience, potential, and room for maneuvering. It also has a unique institutional advantage and has the political advantage of “concentrating resources to do big things.”

Externally, the article continued, the world economy has shown signs of recovery. In the first three quarters of this year, China’s imports and exports “maintained a steady growth momentum.” It has accelerated investment and trade cooperation with countries along the “Belt and Road.”

The article said that it is necessary to unite closely around the “Central Committee of the Party with Comrade Xi Jinping as the core,” “maintain strategic composure, make progress in a steady fashion, and pay close attention to implementation of the reform.” It shows the confidence that “the vessel of the Chinese economy will be able to sail far and steady by cleaving together through the waves.”

Source: Xinhua, November 4, 2018