As the carrier of economic power, market body is the main player of economic activities, the main provider of employment opportunities and the main driver of technical progress. It plays a foundational role in stabilizing the macroeconomic market. At present, China's economic operation continues to recover the development trend, but the foundation of recovery is not yet solid. To consolidate the positive momentum of economic recovery and effectively respond to the triple pressures of shrinking demand, supply shocks and weakening expectations, we need the continued efforts and active actions of market players. A meeting of the Political Bureau of the CPC Central Committee pointed out that "enterprises and entrepreneurs should give full play to their initiative and create a good policy and institutional environment, so that state-owned enterprises dare to do business, private enterprises dare to venture and foreign enterprises dare to invest". In the important time window and time node of economic recovery, this is the inevitable choice to further mobilize the initiative of market players, stabilize market expectations and boost confidence.

To stabilize market entities means to stabilize growth, promote employment, and improve people's livelihood. "We should do everything possible to protect market entities, stimulate their vitality, promote entrepreneurship, encourage enterprises to play a bigger role and achieve greater development, and build up basic strength for economic development," the general secretary stressed. To stimulate the vitality of market entities, we must give full play to the enthusiasm and initiative of enterprises, and encourage state-owned, private and foreign enterprises to take bold and active actions.

"Dare to do" needs to focus on the main responsibility of the main business

State-owned enterprises are an important material and political foundation for socialism with Chinese characteristics and an important pillar and strength for the Party to govern and rejuvenate the country. Strengthening the strategic supporting role of the state-owned economy and enhancing its competitiveness, innovation, control power, influence and ability to resist risks are necessary for building a modern socialist country in an all-round way and providing a solid material foundation for realizing the Chinese dream of great national rejuvenation. It is also the key to strengthening and reinforcing the industrial chain, building a new development pattern, and deeply integrating resources to improve the ability of independent innovation. Currently, change accelerated evolution in one hundred, the external environment more complicated and uncertain, state-owned enterprises to new strides through the layout structure adjustment, in the implementation of the national development strategy, promoting economic and social development, ensuring and improving the livelihood of the people, safeguard national economic security in the "main force" and "YaCangShi" play a good role.

To encourage soes to do well, we need to establish and improve fault-tolerant and error-correcting mechanisms and incentive mechanisms, and create an entrepreneurial environment that encourages innovation, tolerates failure, allows trial and error, and corrects mistakes. To focus on the main business, deepening structural reform, the supply side to guide our orientation in foreign state-owned capital more relationship between national security, national economy and national economy and people's livelihood important industries and key areas of focus to provide public services, protect the ecological environment, support science and technology progress, increase the intensity of the layout of important forward-looking strategic industry. At the same time, we will accelerate the reform of state-owned assets and soes, actively promote the reform of mixed ownership of soes, develop a mixed ownership economy featuring cross-shareholding and integration of state-owned capital, collective capital and private capital, and unswervingly make state-owned capital and soes stronger, better and bigger. In addition, we will make a decisive decision to win the three-year reform of state-owned enterprises, create a "source" of original technologies and a "chain length" of modern industrial chains, further strengthen the leading role of enterprises in innovation, deepen the integration of industry, universities and research institutes, inject new impetus into industrial transformation and upgrading, and play a greater role in building a national strategic scientific and technological force.

"Dare to rush" needs to pay close attention to market demand

Private economy is an important part of the common development of diversified ownership economy with public ownership as the main body, and it is the main body to push forward the structural reform of the supply side, promote high-quality development and develop a modern economic system. Private enterprises contribute more than 50 percent of tax revenue, 60 percent of GDP, 70 percent of technological innovation, 80 percent of urban employment and 90 percent of the number of enterprises. The private economy plays an important role in stabilizing growth, promoting innovation, increasing employment and improving people's livelihood. In recent years, affected by various factors such as changes in the international economic environment, some private enterprises have encountered many difficulties and challenges in their operation and development. Entered a new stage of development, private enterprises to take advantage of their flexible mechanism, market characteristic of resilience, focus on the characteristics and trend of a new round of technological revolution and industrial revolution, focus on market demand change, create effective supply to adapt to the new demand, give full play to the innovation source, continue to the socialist market economy surging power.

To make private enterprises dare to venture, we must unswervingly develop the public sector of the economy and unswervingly support, protect and support the development of the private sector and the non-public sector of the economy. Private enterprises should be given full property rights protection, necessary room for trial and error tolerance, and equal treatment with public enterprises, so as to unleash innovation and creativity in the private sector. We should guide private enterprises to focus on their main industries and core technologies, accelerate reform, development, transformation and upgrading, promote the development of traditional industries in the direction of digital, intelligent and green, and support private enterprises in developing emerging industries, focusing on high-tech industries, and laying out future industries in advance. Can also be in electric power, telecommunications, railway, oil, natural gas and other key industries and fields create the conditions, introduce market competition mechanism, to further research to develop private enterprise divisions, areas, business market access specific paths and measures, in areas such as infrastructure, social undertakings, the financial services industry ease market access, and develop a larger space for private enterprise development. Also, strive to solve the financing problem, to further improve the financing system of promoting scientific and technological innovation, enhance competitive advantage and innovation of private enterprises, speed up the cultivation of "specialization, the new" enterprise, create a batch of high value-added products, cultivating a batch of internationally renowned brands, enhance voice and influence in the global industrial chain division of labor system.

"Dare to invest" needs to optimize the investment structure

Foreign-funded enterprises are an important part of the main body of China's market, as well as the window and link between China and the world. Foreign-funded enterprises, accounting for 2% of the market, have created about 40 million jobs, contributed one-sixth of the country's tax revenue and two-fifths of its imports and exports. This fully demonstrates that foreign-funded enterprises are participants, witnesses and contributors to China's economic development. Foreign enterprises can bring advanced technology, management concepts, management experience, etc., can play a role in optimizing domestic market supply, improving supply system quality, and helping China deepen supply-side structural reform. At the same time, the strong resilience of the Chinese economy and the advantages of its large scale market have also enabled foreign enterprises to achieve good development. China has become a major market for business revenue and profit sources for some multinational companies. With the acceleration of the construction of the new development pattern with the domestic great circulation as the main body and the domestic and international double circulation promoting each other, foreign-funded enterprises are bound to usher in broader development space.

To encourage foreign companies to invest, we need to fully implement the Foreign Investment Law and its implementing regulations, continue to improve the environment for foreign investment, and foster a new pattern of high-level opening-up. At a time when economic globalization is facing adverse trends and the international landscape is undergoing profound changes, it is all the more important for us to keep foreign trade and investment steady, continue to open up to the outside world at a high level and vigorously expand the space for opening up. From January to June 2022, the amount of foreign capital actually utilized nationwide reached 723.31 billion yuan, up 17.4 percent year-on-year, or US $112.35 billion, up 21.8 percent. Foreign companies are actively expanding their investment in China, which fully demonstrates the firm confidence of foreign investors in the prospects of China's economic development. We will create favorable conditions and further expand the opening to the outside world, in-depth implementation of the admittance of foreign negative list, expanding the scope of the encouraged foreign investment, protecting the legal rights and interests of foreign investment, foreign investment management, to guide our orientation in foreign investment more high technology, high value-added, high knowledge content industries, power quality and economic development in our country. At the same time, we should stabilize investment expectations, build more open platforms, increase investment promotion efforts, and constantly optimize the policy support and service system for foreign-funded foreign trade enterprises.

Deepen reform to create a favorable institutional environment

We need good policies and institutions to give full play to the initiative of various market entities and encourage them to take bold and active actions. We need to give full play to the decisive role of the market in allocating resources, better leverage the role of the government, deepen reform across the board, foster a market-oriented, law-based and international business environment, and ensure that all types of market entities have equal access to resource elements in accordance with the law, participate in open, fair and equitable competition, and enjoy equal legal protection.

First, we need to maintain a unified system of fair competition. We should continue to treat all types of market players as equals, improve the fair competition review system, speed up the review of regulations and practices that impede fair competition, and remove all kinds of obstacles and hidden barriers to market competition. We will give equal treatment to all types of entities in terms of access to factors of production, market access and licensing, business operations, government procurement, and bidding.

Second, we will implement a unified market access system. We will continue to focus on supply-side structural reform, speed up the development of a unified national market, strictly implement the management model of "one national list", and prohibit all regions and departments from issuing negative lists with the purpose of market access. We will establish a guarantee mechanism for the coordination of fair competition policies and industrial policies, timely revise and abolish industrial policies that exclude or restrict competition, and promote the transformation of industrial policies into inclusive and functional policies.

Third, we will protect the legitimate rights and interests of market entities. The rule of law is the best business environment, and market entities cannot grow stronger without a strong legal guarantee. We must ensure that all types of market entities have equal litigation status, equal application of the law and equal legal responsibility, and pay attention to comprehensive protection of the rights and interests of enterprises and entrepreneurs, including entity and procedural rights, legitimate rights and legitimate interests, real rights and intellectual property rights. We will use the rule of law to set up the "protective net" of development, set up the "borderline", and hold up the "fairness scale", so as to promote the sense of security of market subjects, and escort the steady and steady growth of our economy.

Source: State-owned Assets Supervision and Administration Commission of the State Council