Liu Yonghao: Keeping pace with reform and taking positive actions to demonstrate the responsibility of private enterprises

Liu Yonghao, a member of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), co-founder of the China Guangcai Program, President of the Sichuan Provincial General Chamber of Commerce, Chairman of New Hope Group Co., Ltd., and Vice Chairman of China Minsheng Banking Corporation, recently conducted an exclusive interview with Liu Yonghao.

Reporter: The Third Plenary Session of the 20th CPC Central Committee further deployed major reform measures for the development of the private economy. In February of this year, General Secretary Xi Jinping stated at a symposium on private enterprises that "solid implementation of policies and measures to promote the development of the private economy is the current priority for promoting the development of the private economy." This precisely addressed major social concerns and the aspirations of private enterprises, helping them resolve their doubts about direction, alleviate their development challenges, and alleviate environmental pressures. Please share your understanding and experience of these aspects.

Liu Yonghao: The plenary session made it clear that we must consciously prioritize reform and further comprehensively deepen reform centered on advancing Chinese-style modernization; build a high-level socialist market economic system and improve the institutional mechanisms for promoting high-quality economic development; adhere to the fundamental national policy of opening up to the outside world, promote reform through opening up, leverage my country's advantages as a super-large market, enhance our openness through expanding international cooperation, and build a new, higher-level open economic system... These clear and powerful plans have injected new strength into private enterprises, which are in the transition period from high-speed growth to high-quality growth, and strengthened their confidence in development. The plenary session communiqué mentioned the "high-level socialist market economic system" four times, which left a deep impression on me.

Over the past few decades, the private economy has grown from nothing to something, from small to large, thanks to the Party and the state's policies of upholding reform and opening up and the socialist market economy. The private economy has not only made outstanding contributions to stabilizing growth, promoting innovation, increasing employment, and improving people's livelihoods, but has also cultivated a group of dedicated, passionate, and responsible private entrepreneurs. In the new era of China's modernization, the Party Central Committee has set a high-level goal for the socialist market economy. While fully affirming the development and contributions of private enterprises, it has also put forward new requirements. We private entrepreneurs should strive and work hard in accordance with the guidance of the Third Plenary Session of the 20th CPC Central Committee.

This plenary session emphasized the need to create a fairer and more dynamic market environment to optimize resource allocation efficiency and maximize benefits; stimulate the endogenous driving force and innovative vitality of society; unwaveringly consolidate and develop the public economy, unwaveringly encourage, support, and guide the development of the non-public economy, ensure that all types of economic ownership have equal access to production factors, fair participation in market competition, and equal legal protection, and promote the complementary advantages and common development of all types of economic ownership; and build a unified national market and improve the basic institutions of the market economy. These arrangements resonate deeply with the concerns of private enterprises. In recent years, faced with a complex international and domestic environment and the pains of economic transformation and shifting gears, some entrepreneurs have felt pressured, worried, and anxious, and some have even felt like "laying back." Some have also experienced a lack of confidence and motivation. The plenary session's discussion of the socialist market economy not only closely aligns with current realities but also points to a systematic and comprehensive direction for reform. It addresses confusion and dispels doubts, providing a clearer direction and injecting vitality into current economic development. In particular, on February 17th of this year, General Secretary Xi Jinping, in his important speech at a symposium on private enterprises, emphasized that the private economy in the new era and new journey holds broad prospects for development and great potential, and that it is time for private enterprises and entrepreneurs to demonstrate their capabilities. This has given private enterprises confidence and hope for the future. We must cherish the country's favorable policies, remain steadfast in the face of complex circumstances, and remain resolute. We must continue to strive hard to promote the transformation and development of enterprises.

Reporter: The rule of law is the best business environment. What is your assessment of the current formulation and implementation of the Private Economy Promotion Law?

Liu Yonghao: As my country's first fundamental law specifically addressing the development of the private economy, its formulation and implementation are both positive and significant. It will surely effectively safeguard the legitimate rights and interests of private economic organizations, enhance the confidence of entrepreneurs, and stimulate market vitality. To promote the healthy development of the private economy, the central government has introduced numerous policies, but legal protection is particularly crucial. This is a crucial component in promoting high-quality national economic development and has a positive impact on the high-quality development of private enterprises themselves. As a member of the National Committee of the Chinese People's Political Consultative Conference (CPPCC) from a private enterprise background, I have repeatedly addressed the issue of legal protections for private enterprises in my proposals. This legal recognition and protection of private enterprises by the state is timely, and I am very pleased. The vitality and authority of the law lie in its implementation. Next, we hope that relevant departments will swiftly introduce supporting laws, regulations, policies, measures, and institutional mechanisms to effectively implement the Law on Promoting the Private Economy.

Reporter: Reform and opening up is a pivotal decision that has shaped the destiny of contemporary China, and private enterprises have continued to grow and develop during this period. The Third Plenary Session of the 20th CPC Central Committee proposed policies and guidelines dedicated to creating a favorable environment and providing more opportunities for the development of the non-public economy. This will significantly boost the confidence of private enterprises, enhance the prospects of private entrepreneurs, and inject strong momentum into the development of the private economy. As President of the Sichuan Provincial Sichuan Chamber of Commerce, what are your thoughts on guiding private enterprises to fulfill their responsibilities to the country and benefit the people?

Liu Yonghao: The Sichuan Chamber of Commerce is committed to service innovation, empowering Sichuan merchants to pursue high-quality development. We guide Sichuan merchants to firmly focus on developing new-quality productive forces, continuously explore new technologies, new models, and new business formats, and accelerate the digital, intelligent, and green transformation and upgrading of their businesses. We focus on our core businesses, strive for innovation and creativity, cultivate and enhance core competitiveness, and build an influential and reputable Sichuan merchant brand. We strengthen innovative cooperation, jointly promote the accelerated industrialization and marketization of innovative achievements, and jointly embark on the path of high-quality development.

We adhere to the development philosophy of shared development, shared benefits, and win-win, creating a comprehensive service ecosystem for Sichuan merchants. We leverage digital tools to explore the development of a "Digital Chamber of Commerce," leverage the role of chambers of commerce as a liaison, and jointly promote resource sharing, industrial integration, and complementary advantages among Sichuan merchants. We jointly inject new vitality into the development and growth of Sichuan merchants and jointly serve to empower them to reach new heights.

We actively broaden our horizons, emphasizing both attracting foreign investment and going global. We actively promote China's fine traditional culture, proactively serving as "investment ambassadors," promoting the booming Sichuan and showcasing the hometown's business environment. Leveraging the advantages of Sichuan businesspeople's global network, utilizing global resources and markets, we actively seek partnership opportunities with outstanding domestic and international companies to achieve mutual benefit and win-win outcomes.

We uphold our social responsibility and encourage Sichuan businesspeople to actively return to their hometowns to invest and start businesses. We support the growth of young Sichuan businesspeople and promote entrepreneurship and employment. We promote the entrepreneurial spirit of the new era, inherit the excellent culture of Sichuan businesspeople, operate with integrity, pursue innovative development, actively participate in public welfare, and jointly cultivate a positive image.

Next, we will continue to build the Sichuan Business Association as a comprehensive platform to better serve and empower the growth of the Sichuan business community, serve more Sichuan businesspeople and their "friends" to invest and start businesses in Sichuan, and lead the vast majority of Sichuan businesspeople to make new contributions to promoting economic and social development.

Reporter: As one of the initiators of the China Guangcai Project, how do you guide private entrepreneurs to emulate the best, strengthen their sense of patriotism, firmly establish a new outlook on wealth that aligns with the core socialist values, foster a positive atmosphere of business, capital, and wealth for good, and cultivate a positive image of wealth that is responsible, righteous, and loving?

Liu Yonghao: On the one hand, we actively promote the Guangcai spirit and practice corporate social responsibility. Since I and nine other private entrepreneurs co-founded the Guangcai Project in 1994, New Hope Group has built over 150 poverty alleviation factories across the country over the past 30 years, investing over 5 billion yuan, creating over 60,000 local jobs, donating over 1 billion yuan in various donations, and supporting over 100,000 impoverished households. Through the Guangcai Project, hundreds of thousands of private enterprises across the country have made positive contributions to the country's poverty alleviation efforts. Following the national rural revitalization strategy, New Hope Group launched the "Five-Year Plan" for rural revitalization, aiming to: mobilize 50 billion yuan in investment, create 50,000 new jobs, train 50,000 "green-collar" farmers, support 50,000 farmers and small and medium-sized enterprises, and build five rural revitalization demonstration bases. Most of these projects have been completed. In 2021, New Hope Group and the National School of Development at Peking University jointly launched the inaugural "Village Head Class," a public welfare training program for rural revitalization. This program provides village officials with seven days of high-level offline courses and two years of online interactive training. Over the past four years, over 3,000 "village heads" nationwide have applied for selection, and over 400 trainees have been trained, achieving excellent results. The "Village Head Training Program to Support Rural Talent Revitalization" project has been selected as a Guangcai Project case study and included in the national "Ten Thousand Enterprises Revitalizing Ten Thousand Villages" initiative's outstanding case database.

On the other hand, I have actively fulfilled my duties and responsibilities, advocating for private enterprises and farmers. I have served at the National People's Congress and the Chinese People's Political Consultative Conference for over 30 years, serving as a member of the Chinese People's Political Consultative Conference (CPPCC) for six terms and a deputy to the National People's Congress for one term. During these 30 years, I have submitted a total of 201 proposals or opinions. Through proposals, suggestions, and speeches, I have actively fulfilled my duties of participating in and advocating for government and public affairs. The proposals and suggestions I submitted have consistently focused on the "three rural issues," poverty alleviation and common prosperity, and the healthy growth and development of private enterprises. Many of these proposals and suggestions have received responses from relevant departments.