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China warms to private business – but for how long?
Political winds favour China’s private sector. This mood might last for a while.
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Since assuming power in 2012, Mr Xi Jinping has systematically tightened the party’s control over the private sector.
PHOTO: AFP
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BEIJING - “Confidence is more valuable than gold,” Mr Liu Yonghao, founder and chairman of New Hope, the biggest animal feed producer in China, said.
He was among executives who took centre stage at a top-level meeting with Chinese President Xi Jinping, alongside those from Huawei, BYD and other industry giants – indicative of China’s current focus on high-tech fields, innovation and industrial upgrading.
