Xi introduced six measures, including easing companies’ tax burdens, resolving private companies’ difficulties in borrowing money, building a fairer environment for competition and protecting the safety of private businesspeople and their wealth.

The president’s commitment to supporting private businesses is in line with his remarks during his recent inspection tours in Liaoning and Guangdong provinces, where he visited private companies and reaffirmed the Party’s unswerving support for private businesses.

Lu Weiding, board chairman of Wanxiang Group, an auto components manufacturer based in Hangzhou, Zhejiang province, said after the meeting that he was greatly encouraged by Xi’s commitment to supporting private businesses.

“General Secretary Xi talked with us face-to-face, and we are assured that the Party’s supportive policies for private businesses and entrepreneurs have never changed in the 40 years since the reform and opening-up began,” he said.

Lu said China has comprehensive industrial chains and an excellent workforce with a good educational background. He said he is quite confident about the future of his business.

Yi Huiman, chairman of the Industrial and Commercial Bank of China, said the president’s remarks put private entrepreneurs’ minds at ease.

ICBC will make further efforts to implement Xi’s requirements on supporting private businesses and provide better financial services to private companies, he said.