Strengthen support for private enterprises to participate in major project construction
2024-11-25
The Third Plenary Session of the 20th Central Committee of the Communist Party of China clearly proposed to promote fair opening up of infrastructure competitive fields to business entities and improve the long-term mechanism for private enterprises to participate in national major project construction. This provides direction for further supporting private enterprises to participate in major national project construction. As an important force in promoting the development of socialist market economy, private enterprises actively participate in the construction of major national projects, which is not only a necessary requirement for their own high-quality development, but also can drive the optimization of economic structure, promote industrial upgrading, and stimulate market vitality. In recent years, private enterprises have participated in the construction of major projects in China's high-speed rail, nuclear power, oil and gas industries. It should also be noted that the construction of major national projects generally has public welfare characteristics such as addressing weaknesses and strengths, with large investment scales and long cycles. Private enterprises have unstable expectations and lack confidence in whether they can obtain long-term stable returns. At the same time, some projects have high construction difficulties and operational management requirements, and some private enterprises have weak construction strength and insufficient capabilities. In addition, the insufficient degree of market openness in some fields has affected the investment enthusiasm of private enterprises. Supporting private enterprises to participate in major national projects with greater strength demonstrates the country's determination and confidence in promoting the development and growth of the private economy and promoting high-quality development of private enterprises. Private investment is relatively flexible and more focused on efficiency, with prominent competitive advantages. Participating in major national project construction can help broaden the medium and long-term investment channels of private capital and boost the confidence of private enterprises in development. In this process, private enterprises can also fully play their role in stabilizing growth and employment. From the perspective of technological innovation, major project construction involves many cutting-edge technologies and requires the joint efforts of the entire industry chain. Private enterprises are important entities in technological innovation, and participating in major project construction can help better leverage the synergistic effects of technological innovation, promote scientific and technological progress, and industrial upgrading. Since the beginning of this year, China has taken multiple measures to promote the development of the private economy. Continuously improving legal policies, accelerating the legislative process of the private economy, and publicly soliciting opinions; A series of policy measures have been introduced focusing on private investment, fair access, financing support, etc; Establish and improve a regular communication and problem-solving mechanism around the concerns of private enterprises, and coordinate the resolution of practical problems in development. Positive factors continue to increase, and confidence in the development of the private economy has strengthened. From an investment perspective, private investment in the manufacturing industry increased by 11.4% year-on-year in the first 10 months of this year, 2.1 percentage points higher than the overall growth rate of manufacturing investment. Private investment in the real economy sector maintained a good growth momentum. With the recent implementation of a package of incremental policies, the endogenous driving force and innovative vitality of the development of private enterprises are expected to be further stimulated. In the future, we will continue to deepen reform and innovation, providing more development opportunities and space for private enterprises to participate in major national project construction. We need to implement the requirement of equal treatment for state-owned and private enterprises from the institutional and legal levels, unify market access, break down implicit barriers, and facilitate exit mechanisms. At the same time, we should better leverage the driving and amplification effects of government investment, innovate project reserve mechanisms, improve supporting mechanisms, select projects with a certain level of profitability and relatively mature conditions, and adopt various methods to encourage and attract more private enterprises to participate in national major project construction according to market-oriented principles. Private enterprises should also strengthen their own capacity building, continuously improve their market competitiveness, and contribute to the high-quality development of China's economy by participating in major national project construction. (New Society)
Edit：Yao jue Responsible editor：Xie Tunan
Source：Economic Daily
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