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Whether public or private, domestic or foreign, all capital is protected by law in China, Sun Yeli, spokesperson for the 20th National Congress of the Communist Party of China (CPC), told a press conference on Saturday.
While fully affirming the positive role of capital in developing the socialist market economy, Sun noted that China has taken measures to prevent the disorderly expansion of capital.
Restricting the disorderly expansion of capital and promoting the healthy development of economy of non-public ownership are not opposites, Sun said.
Setting "traffic lights" for capital is not to abandon it, but to better maintain the order of the market economy, where capital can develop healthily under the institutional framework of laws and regulations, Sun explained, adding that doing so will benefit the development of the private sector.
China will "unswervingly consolidate and develop the economy of public ownership, and unswervingly encourage, support and guide the development of economies of other forms of ownerships," Sun said.
These two "unshakable" policies have been written into the fundamental strategy of upholding and developing socialism with Chinese characteristics in the new era, Sun added. This strategy has not changed and will not change in the future, he stressed.
Sun said China will constantly work to foster a world-class business environment underpinned by market principles and the rule of law.
"China will always be a hot spot for investment."
(Cover: A worker at a manufacturing company in the Zhenghe Economic Development Zone in Nanping, Fujian Province, China, October 14, 2022. /CFP)
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Copyright © 2023 CGTN. 京ICP备16065310号
Disinformation report hotline: 010-85061466