People's Daily front page: Three stories showcasing the innovative and creative vitality of the private economy

On April 21st, the People's Daily published a front-page report titled "Three Stories: The Innovative and Creative Vitality of Private Enterprises — Observations from a Special Seminar for Representatives of the Private Economy." The report recounted General Secretary Xi Jinping's important speech at a symposium on private enterprises, which inspired many private entrepreneurs. Recently, over 80 representatives of the private economy from across China shared vivid stories of innovation, confidence, and responsibility at a special seminar for representatives of the private economy, jointly organized by the Central United Front Work Department, the All-China Federation of Industry and Commerce, and the Central Academy of Socialism. They demonstrated the innovative and creative vitality of the private economy.

The story of New Hope Group is one example of private enterprises reflecting on their roots and striving for progress, fulfilling their social responsibilities. The report recounts how Liu Yonghao, Chairman of New Hope Group, and nine other private entrepreneurs launched the Guangcai Project in 1994, inspiring private enterprises to contribute to rural development and continuing to this day for over 30 years.

The report also mentioned a story Liu Yonghao told: Liangshan Yi Autonomous Prefecture in Sichuan Province is mountainous and has a wide range of temperatures, making it ideal for growing Sichuan peppercorns. So, Guangcai Enterprise helped the locals plant Sichuan peppercorn trees. However, with so many peppercorns planted, sales became a problem. So, New Hope organized a deep-processing program, encouraging local farmers to start businesses and make products like roasted pepper sauce and hot pot base, which became popular among young people, with sales exceeding 100 million units for a single product.

The following is an excerpt from New Hope's case study:

Remembering Our Roots and Striving for Progress When Wealth Achieves

—A Story About Corporate Social Responsibility

"Private enterprises and entrepreneurs should be filled with a passion for entrepreneurship and serving the country, constantly elevate their ideals, cultivate a deep sense of patriotism, remember their roots and strive for progress when they become wealthy, promote the entrepreneurial spirit, focus on strengthening, improving, and expanding their enterprises, and firmly become builders of socialism with Chinese characteristics and promoters of Chinese-style modernization." General Secretary Xi Jinping's important speech at the private enterprise symposium was frequently mentioned at the seminar.

How can private entrepreneurs in the new era promote the entrepreneurial spirit, fulfill their social responsibilities, pursue both righteousness and profit, and strive for progress while thriving?

"We call it 'Guangcai' because we believe that running a private enterprise is glorious, and it's even more glorious for private entrepreneurs to respond to the Party's call and actively participate in poverty alleviation." On the first day of the seminar, Liu Yonghao, a member of the National Committee of the Chinese People's Political Consultative Conference and Chairman of New Hope Group Co., Ltd., shared his story about his involvement in the Guangcai Project.

In 1994, Liu Yonghao joined forces with nine private entrepreneurs to launch the Guangcai Project, encouraging private enterprises to contribute to rural development. Unexpectedly, it has continued for over 30 years.

Liu Yonghao recounted a story: Liangshan Yi Autonomous Prefecture in Sichuan Province is mountainous and has a wide range of temperatures, making it ideal for growing Sichuan peppercorns. So, the Guangcai Project helped local people plant Sichuan peppercorn trees. However, with so many peppercorns planted, sales became a problem. So, the company organized a deep-processing program, encouraging local farmers to start businesses and make products like roasted peppercorn sauce and hot pot base. These products are very popular among young people, with sales of over 100 million servings of a single product.

"Our company was born and developed in the countryside. It's thanks to the countryside that we've grown into a Fortune 500 company. We have an even greater responsibility to help farmers increase their income and enrich themselves, and to promote the comprehensive revitalization of rural areas," Liu Yonghao said. "It is the responsibility of private enterprises to have a strong desire to serve the country, focus on development, and promote common prosperity and social progress."