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Senior Official Calls for Healthy Growth of Private Sector

Huang Mengfu, chairman of the All-China Federation of Industry and Commerce (ACFIC), has called for more efforts to promote the "healthy" development of private enterprises.

Huang, also vice chairman of the National Committee of Chinese People's Political Consultative Conference (CPPCC), made the remarks on Friday at the sixth session of the ninth Conference of the ACFIC.

The work report approved by last month's 17th National Congress of the ruling Communist Party of China (CPC) clearly stated the Party will "unswervingly encourage, support and guide the development of the non-public sector".

He asked ACFIC members to "hold high the great banner of socialism with Chinese characteristics", thoroughly implement the essence of the Party congress and to contribute more to "the healthy development of the non-public sector of the economy", and build China into a moderately prosperous society.

Private enterprises, those not run by the state, have grown stronger and have played an increasingly important role in China's economic development in recent years.

Statistics showed that China's registered private enterprises grew from 1.762 million in 2000 to 4.947 million in 2006, while their total registered capital rocketed from 1.33 trillion yuan (US$170.5 billion) to 7.5 trillion yuan.

Meanwhile, the number of registered private entrepreneurs rose from 3.953 million in 2000 to 12.249 million in 2005.

The ACFIC, with more than two million members, was established in 1953 and is a non-governmental chamber of commerce composed mainly of Chinese industrialists and business people.

(Xinhua News Agency November 17, 2007)

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