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BEIJING, Nov. 3-- With unswerving support from the central authorities, China's private enterprises are set to embark on a new journey and embrace a brighter future. On Thursday, President Xi Jinping presided over a symposium on private enterprises, saying that China will unswervingly encourage, support and guide the development of the non-public sector and support private enterprises to move toward a broader stage. The private sector plays an important role in the Chinese economy, contributing more than 50 percent of tax revenue, 60 percent of GDP, 70 percent of technological innovation, 80 percent of urban employment and 90 percent of new jobs and new firms. Xi reiterated the status and functions of private enterprises, adding that the sector has played an important role in developing the socialist market economy, transforming government functions, transferring surplus rural labor and tapping the international market. "Over the past 40 years, the private sector of the economy has become an indispensable force behind China's development," Xi said. However, some private companies have recently encountered difficulties and problems in their development in terms of market, financing and transformation. The principle and policies to unswervingly encourage, support and guide the development of the non-public sector have not changed, and the principle and policies to provide a sound environment and more opportunities in the sector have not changed either. | 
