Initiated by the China National Democratic Construction Association, Ministry of Industry and Information Technology, and Tianjin government, a high-level forum on the development of the private sector was held in Tianjin on Sept 15.

“The private economy is a people-oriented economy that is owned, operated and enjoyed by the public. It has realized the accumulation of wealth for the people and is the backbone of common prosperity,” said Gu Shengzu, executive vice-chairman of the Central Committee of the CNDCA.

To achieve common prosperity, the private sector should continue to pursue healthy development swiftly but steadily; expand its core strength and businesses; adhere to being highly specialized and distinguished; develop a long-term vision for growth and grow with the times as it transforms and upgrades, Gu added.

Tianjin will serve as a platform for private players with valuable opportunities, said Li Hongzhong, secretary of the CPC Tianjin Municipal Committee. The 14th Five-Year Plan (2021-25) marks the start of the city’s comprehensive construction of a modern socialist metropolis.

The metropolis has actively integrated into the regional coordinated development of Beijing-Tianjin-Hebei and the international Belt and Road Initiative. Tianjin boasts a sound industrial base and complete industrial categories.  It is pursuing development through creativity and international consumption. The city is dedicated to optimizing business environment to become more market-oriented and law-based.  Li expressed welcome for private players to invest and develop in Tianjin.