President Xi Jinping sent a strong signal of maintaining supportive policies toward private businesses at a meeting with entrepreneurs on Thursday. Here are his views on private businesses and the six measures he has introduced to bolster private businesses.

Role of private businesses

"The private sector's contributions are undeniable for the country to be able to make miraculous achievements in economic development."

"Any word or action that denies, doubts or wavers over the country's basic economic system is not in line with the principles and policies of the Party and the country."

"All private companies and private entrepreneurs should feel totally reassured and devote themselves to seeking development."

"The private enterprises and private entrepreneurs belong to our own family."

"On the new journey to complete the building of a moderately prosperous society in all respects and further fully build a modern socialist China, our country's private sector should only grow stronger instead of being weakened and march toward a broader stage."

Six measures

First, the burden of taxes and fees on the companies should be eased.

Substantial tax cuts including the reduction of value-added taxes should be advanced, while tax exemptions can be provided for micro and small firms as well as technology startups. The nominal rates for social security contributions should be lowered in accordance with actual conditions.

Second, measures should be taken to address the difficulty and high cost of financing for private firms.

The financial market thresholds should be lowered to expand the fund-raising channels of private firms. Necessary financial aid should be provided for private companies that follow the direction of the country's economic upgrading and have good prospects.

Third, the playing field should be leveled.

Various hidden restrictions and hindrances for private enterprises should be removed. An environment of fair play should be created for private enterprises in market access, administrative approvals, business operations, bids and tenders and military-civil integration. Private firms are encouraged to participate in the reform of State-owned enterprises.

Fourth, policy implementation should be improved.

Policies should be better coordinated and implemented meticulously to give private firms a stronger sense of fulfillment. In the process of reducing overcapacity and leverage, the same standards should be observed for enterprises of all types of ownership. In law enforcement involving work safety and environmental protection, authorities should avoid the one-size-fits-all approach.

Fifth, a new type of cordial and clean relationship between government and business should be established.

Party committees and governments at all levels should spend more time and energy caring for private enterprises and entrepreneurs, listen to their opinions and appeals and take initiatives to help them solve problems. Major policies should be explained correctly, and any erroneous assertions should be cleared up.

Sixth, entrepreneurs' personal and property safety should be ensured.

When performing their duties, disciplinary and supervisory agencies should not only solve cases but also safeguard legitimate personal and property rights and protect the lawful operation of businesses.