Future of SOEs not in doubt, protection of private economy 'unswerving', says Xi

Chinese President Xi Jinping, also general secretary of the Communist Party of China (CPC) Central Committee and chairman of the Central Military Commission, shakes hands with workers during his visit to China National Petroleum Corporation (CNPC) Liaoyang Petrochemical Company in Liaoyang, northeast China's Liaoning province, Sept 27, 2018. [Photo/Xinhua]

Any thoughts and statements that cast doubt on the future of State-owned enterprises are wrong, President Xi Jinping said during an inspection tour in Liaoning province on Thursday.

Xi stressed that China's State-owned enterprises should continue to keep growth and development.

Chinese President Xi Jinping, also general secretary of the Communist Party of China (CPC) Central Committee and chairman of the Central Military Commission, speaks to workers during his visit to China National Petroleum Corporation (CNPC) Liaoyang Petrochemical Company in Liaoyang, northeast China's Liaoning province, Sept 27, 2018. [Photo/Xinhua]

"Such statements as 'there should be no State-owned enterprises' and 'we should have smaller-scale State-owned enterprises' are wrong and slanted," Xi said while inspecting the China National Petroleum Corporation (CNPC) Liaoyang Petrochemical Company.

The principle of having Communist Party of China's guidance of State-owned enterprises must be consistently followed, he added.

Chinese President Xi Jinping, also general secretary of the Communist Party of China (CPC) Central Committee and chairman of the Central Military Commission, visits a workshop of Liaoning-based China Zhongwang Holding in northeast China's Liaoning province, Sept 27, 2018. [Photo/Xinhua]

While visiting China Zhongwang Holding, Xi stressed that, since the reform and opening-up began, the CPC Central Committee has always been supportive and protective of private enterprises. China's basic economic system must "unwaveringly" consolidate and develop the public sector, and "unwaveringly" encourage, support, guide and protect the development of the non-public sector, he noted.

Chinese President Xi Jinping, also general secretary of the Communist Party of China (CPC) Central Committee and chairman of the Central Military Commission, visits a workshop of Liaoning-based China Zhongwang Holding in northeast China's Liaoning province, Sept 27, 2018. [Photo/Xinhua]

Xi also reiterated that there was an "unchanged" attitude toward the non-public sector in China's economic and social development and that policies support creating a favorable environment and more opportunities for the development of the non-public economy.