China's private entrepreneurs upbeat about development prospects

China's private businesses, growth of which is rooted in the background of the reform and opening up, will continue to prosper as the country vows to unswervingly support the sector, entrepreneurs said.

Commenting on a symposium on private enterprises, Liu Yonghao, chairman of the New Hope Group, China's largest private agribusiness firm, said the high-level symposium, along with supportive policies unveiled afterward, shored up private entrepreneurs' confidence.

China will unswervingly encourage, support and guide the development of the non-public sector and support private enterprises to develop toward a broader stage, according to a statement issued after the symposium on Nov. 1.

A host of policies were unveiled for private businesses, including tax references, better public services, as well as accessible and affordable financing.

These policies promise bright prospects for private businesses, Zhou Haijiang, board chairman of the HoDo Group, one of China's largest apparel manufacturers, told reporters at a news conference Wednesday in Beijing.

With the favorable environment built by the government and a massive market in the country, Liu said private businesses will feel more assured to expand investment and boost research and development.

Liu said the group will expand investment and R&D input to explore opportunities brought by the country's consumption upgrade.

Nan Cunhui, chairman of Chint Group, a power equipment company, said the country had made significant progress in improving its legal system, dispelling concerns of private entrepreneurs, and more will be done as the country vowed to ensure entrepreneurs' personal and property safety at the symposium.

As the country seeks to boost high-quality development, private companies will enjoy huge opportunities as long as they focus on enhancing the competitiveness of their products and services, Nan said.