Li Yong: Focusing on Enhancing the Confidence of Private Entrepreneurs and Promoting High Quality Economic Development

CNChina News) Beijing, June 29th (Liu Yanghe) - Li Yong, Chairman of the Board of Directors of CHINAYONG Group, stated with the theme forum of "Promoting Entrepreneurship and Boosting Confidence in Private Enterprises" at the 2023 China New Finance and Economics Annual Conference on June 29th that only by truly enhancing the confidence of private entrepreneurs can we accelerate the transformation of China's economy and promote high-quality development of the economy.

The "2023 China New Finance and Economics Annual Conference" is hosted by China News Agency and is undertaken by China News Network. It is jointly hosted by the magazine "State-owned Assets Supervision and Administration Report", the China Development Planning and Research Institute of Tsinghua University, China National Express, China Overseas Chinese Network, China New Video, and China New Economic and Social Network.

Li Yong discussed the importance of boosting confidence in the development of private enterprises on that day. He believes that 2023 is a year for China's economy to return to normal operation, and stable growth has risen to a more important position. Among them, effectively boosting the confidence of private enterprises is a key link. By utilizing reasonable institutional arrangements and mechanism design, we can provide stable, reliable, and sustainable future expectations for private entrepreneurs, in order to truly "boost the confidence of private enterprises".

Li Yong, Chairman of the Board of Directors of CHINAYONG Group, photographed by Li Jun, a journalist from CN

First is to strive to create an atmosphere for forming a public opinion that boosts the confidence of private enterprises. He expressed the needs to show some successful cases of private economic development and actively conduct propaganda of private enterprises and entrepreneurs who have made outstanding contributions to the development of the national and ethnic economy.

The second is to provide supports and incentives for innovation in private enterprises. He believes that it is necessary to further improve incentive policies and expand the deduction of new product and new technology research and development expenses as well as provide tax incentives and other inclusive policies for high-tech enterprises and increase patent protection efforts in order to encourage and assist private enterprises to continuously improve their innovation capabilities.

He emphasized that special attention should be paid to supporting and encouraging technological innovation in small and medium-sized enterprises, increasing policy supports for traditional small and medium-sized enterprise innovation and guiding them to carry out product innovation, technological innovation, business model innovation, and business restructuring based on innovation, which is of great significance for high-quality development. For this purpose, it is also recommended to formulate new incentive policies, providing appropriate financial subsidies, tax credits, and other inclusive incentive policies for the transformation and innovation projects and business restructuring of traditional small and medium-sized enterprises.

The third is to increase supports for private enterprises in financing, administrative management, and other aspects. Li Yong agrees that we should strive to solve the problem of financing difficulties for small and medium-sized enterprises, improve the financial system, and provide reliable, highly-efficient, and convenient services for their financing. We need to accelerate the construction of the public service system and provide technical supports and professional services for independent innovation of private enterprises. Guide private enterprises to carry out cross-regional and cross-industry mergers and acquisitions, and cultivate a group of large enterprise groups with outstanding characteristics and strong market competitiveness. Actively clean up and streamline administrative approvals and enterprise fees related to private investment management, and reduce enterprise costs.

The fourth is to encourage private enterprises to invest and adopt new equipment. He suggested that in order to stimulate the investment and development enthusiasm of private enterprises, active supports should be given to their investment projects in strategic emerging industries such as new generation information technology, biotechnology, new energy, new materials, high-end equipment, new energy vehicles, green environmental protection, aerospace, marine equipment, etc. in terms of land and financing supply, and certain funds and tax subsidies should be given as needed.

"At the same time, we should also pay attention to improving the legal environment of fair competition, and provide supports and awards for the innovative vitality of talents. "Li Yong strengthened. (End)

Editor: Lu Yan

The article was reprinted from Chinanews.com