(Bloomberg) -- President Xi Jinping sought to rally China’s private sector to help overcome economic challenges that include suppression by countries led by the US, China National Radio reported.
China is grappling with “comprehensive containment and suppression by western countries led by the US over the past few years, which have brought unprecedented and severe challenges for China’s development,” Xi told the country’s top political advisory body on Monday, according to the state broadcaster.
He stressed the importance of the private sector to China’s economy, and urged companies to strengthen innovation and play a bigger role in establishing technology independence. China will support its technology platform companies to create jobs, expand consumption, and compete globally, Xi said.
China needs more effective measures to support small and medium-sized enterprises, Xi said at the meeting, citing domestic pressures including Covid and a slowing economy.
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