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President Xi Jinping: China’s private economy will only get stronger and could not be weakened

Chinese President Xi Jinping said China's private economy will only get stronger and could not be weakened and he pledged more ways including tax cuts and bailout funds to help the private sector, his latest bid to shore up confidence of private entrepreneurs.

Xi, joined by the vice premiers Hanzheng and Liu He, made the remarks in an unprecedented “symposium” on Thursday to solicit views from representatives from the private sector, including Baidu's founder Robin Li and Tencent's chairman Pony Ma.

The symposium came after the Political Bureau of the CCP Central Committee, the country's top policymaking body, held a meeting one day earlier, during which the leadership said China’s external environment was going through profound changes and Chinese economy is facing increasing downward pressure.

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