Premier draws on wisdom gained at work

In his debut before local and global media as head of government, Premier Li Qiang drew on the pool of experience and wisdom he has garnered from decades of work in the dynamic economic hubs of East China.

What struck me most was how the new premier used his familiarity with the private sector to dispel unnecessary concerns of business leaders and boost their confidence in the country's future.

The premier, who was sworn in on Saturday, took questions from 10 Chinese and foreign media outlets at a news conference that lasted for over 80 minutes on Monday.

I spoke with reporters from Nepal, North Macedonia, Egypt and the United Arab Emirates, all of whom expressed keen interest in the Chinese economy and how the new leadership would shore up business confidence.

Li, a native of Zhejiang, tapped into his work experience in the province to reiterate the government's unwavering support to the private sector.

The premier worked in Zhejiang for over 30 years and served as the governor from 2013 to 2016.

Before being elected a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee — the Party's highest decision-making authority — in October, he had also had tenures as Party secretary of Jiangsu province and Shanghai.

Li said he understood both the aspirations and worries of private entrepreneurs and urged them to proceed with the same spirit that was common in Zhejiang and neighboring Jiangsu in the 1980s and 1990s, when the two provinces were trying to grow their private sectors.

"To reach their goals, they were willing to explore all paths, go through all troubles, try all means and endure all hardships," he said.

He underscored that "a pioneering spirit of clearing obstacles and blazing new trails is always needed".

The importance of the private sector to the economy has long been proved in Zhejiang, which boasted 2.9 million private businesses last year. The private sector contributed 73.4 percent of the province's tax revenue and 67 percent of GDP, according to local authorities' statistics.

Zhejiang, which has stood out for its strong pro-business environment, has also been tasked by the nation's top leadership with piloting efforts for high-quality growth and attaining common prosperity, one of the key missions for the Chinese path to modernization.

On Monday, Li underscored the need to continue leveling the playing field and expanding the room for the growth of private businesses.

Such moves have been vindicated in the past, and the premier showed he is keenly aware that there can be no letup in the future.