On March 9, 2016, People’s Daily published the full text of a speech that Xi Jinping delivered to a group of businessmen. On March 4, 2016, during the fourth session of the 12th National Committee of the Chinese People’s Political Consultative Conference (CPPCC), Xi gave a speech titled, “Unswervingly Adhere to Our Basic Economic System and Promote the Healthy Development of different Forms of Ownership.”
Xi stressed that the status and the role of the non-State [private] ownership economy in economic and social development has not changed. Likewise, the policies to encourage, support, and guide the non-State [private] ownership economy have not changed. Xi said that there are five priorities: to resolve fund-raising issues that mid-sized and small private businesses face, to open the market to them, to accelerate the construction of public infrastructure to serve these businesses, to guide them in mergers and acquisitions using their intellectual property as leverage to form conglomerates, and to expedite government approval of investments into these private businesses.
Source: People’s Daily, reprinted by the official website of the Communist Party of China, March 9, 2016