In his address to China’s top political advisory group at the National People’s Congress (NPC) on Tuesday, President Xi Jinping urged the private sector to help China overcome the “containment” by the US and the West. China National Radio (CNR) reported on President Xi’s speech, where he highlighted that China is facing “total detention and repression by the US-led Western bloc over the past few years. This brings unprecedented serious challenges to China’s development.”
President Xi stressed the importance of the private sector to the Chinese economy and encouraged companies to foster innovation and play a greater role in building “technological independence.” The speech was a direct criticism of the United States and highlighted the growing tensions between the two countries, particularly in terms of advanced technology. These tensions raise concerns about the two countries’ ability to impose security measures to reduce the likelihood of making the wrong decision. While the relationship between the two countries has always been deteriorating since a meeting in November last year, President Xi’s speech seems to indicate that China is ready to face the challenge posed by the US and the West.
President Xi also called on private companies to share responsibility for achieving common prosperity by distributing wealth among all of their employees. This reflects China’s commitment to achieving social and economic equality, which is a major goal of the Communist Party of China.
The Chinese private sector has been growing rapidly in recent years, and it has become an essential part of the Chinese economy. However, the increasing tensions between the US and China have made it difficult for Chinese companies to operate in the US and other Western countries. President Xi’s speech is a call to action for the private sector to help China overcome this challenge and achieve its development goals.