WangJunJin attended THE NPC AND CPPCC

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Wang Junjin Advises Vice Premier Li Keqiang to Issue “New 36” Supporting Measures As Soon As Possible
ReleaseDate: 2011-03-07

March 7, (Reporter Jin Shaoce of “Zhejiang’s Merchants” magazine from Beijing) In the afternoon of March 4th, Li Keqiang, member of the Standing Committee of the Political Bureau of the CPC, and Vice Premier of the State Council, visited delegates from the Industry and Commerce Association sector and the Central Committee of China Democratic National Construction Association (CDNCA) who were attending the fourth session of the 11th National Committee of the CPPCC, and took part in the Joint Group Discussion Meeting.

At the discussion meeting, Wang Junjin, member of the National Committee of CPPCC, and Chairman of JuneYao Group; Xu Lianjie, member of the National Committee of CPPCC, Deputy Chairman of National Association of Industry and Commerce, and President of Hengan International Group; Fu Jun, member of the National Committee of CPPCC, Deputy Chairman of National Association of Industry and Commerce, and Chairman of the Board of Directors of New Hualian Group; Xu Guanju, member of the National Committee of CPPCC, Chairman of Zhejiang Province Federation of Industry and Commerce, and Chairman of TRANSFAR Group; Feng Dongming, member of the National Committee of CPPCC, and Chairman of Markor Investment Group Co., Ltd, respectively gave addresses on behalf of delegates from the industry and commerce association sector.

Wang Junjin aired his own views on actual supporting measures for private-owned enterprises to make private investment, and proposed advices to Vice Premier Li Keqiang. He recommended unveiling supporting measures of the “New 36 Articles” as soon as possible.

“In recent years, with the development of China’s socialist market economy and the continual deepening of reform and opening up, private investment has come to play an increasingly important role in national economy and social development.” said Wang Junjin at the Joint Group Discussion Meeting that due to long time prohibition in concept and restraint in system, especially the lack of related supporting measures from all regions and local departments, the implementation of relevant policies is not satisfactory, and the development of China’s private investment is still facing many barriers and difficulties. Private investment with vast potential can only stay on bank accounts in the form of savings, and there is no way to invest it into real economy; or in extreme cases it will enter speculation field massively to boost the formation of foam economy. If no effort is made to pay attention to, manage and properly guide private investment, and let it developed freely, it will inevitably affect the steady and relatively fast development of China’s economy and society.

“Therefore, it is recommended to introduce related supporting measures as soon as possible, in order to encourage, support and guide healthy development of private investment.” Wang Junjin recommended:

Firstly it is hoped that local governments at all levels and competent departments can, based on extensive survey and research, while taking into account actual conditions in their local area and their own department, speed up the pace to draft implementation rules to encourage and support the healthy development of private investment; it is recommended when drafting policies and regulations related to private investment, competent departments should go to grassroots level, go to enterprises, and listen to opinions from federations of industry and commerce, industry chambers of commerce and private-owned enterprises, effectively improve the specificness, effectiveness and operability of policies. Meanwhile, it is recommended that the state government should organize periodical assessment and summary on the implementation of “New 36 Articles” by all regional governments and departments, and publicize and popularize good experience in the policy implementation.

Secondly, it is hoped that relevant departments and enforcement institutions can, by making comparison with the “New 36 Articles”, straighten out existing management policies in private investment, remove and amend policies and regulations unfavorable to healthy development of private investment; in particular, it is necessary to reduce, and abolish various administrative approval items which obstruct the healthy development of private investment. It is necessary to stringently control the continuity and fairness in policy execution, so as to avoid any impact on normal project approval in the approval stage due to personal reasons. It is recommended that relevant government departments should hold regular communication with federations of industry and commerce each year, so as to exchange views on changes in private investment policies, and they could also invite NPC delegates, CPPCC members, and members of the executive and standing members of federations of industry and commerce to participate, so as to jointly safeguard the favorable policy environment for healthy development of private investment.

Thirdly, it is hoped to, through the implementation of the “New 36 Articles” and its detailed rules, expand the size of China’s capital market, lower industry access threshold, provide “barrier free green pathway” to private investment, strive to achieve the strategic target of “wealthy people and prosperous nation”. All sectors open to foreign investment and state-owned investment should be open private investment; all preferential policies enjoyed by foreign investment and state-owned investment should be enjoyed by private investment. Therefore, it is recommended that industry and commerce, and taxation administrative departments should take immediate action to unveil related documents such as “Detailed Rules for Industry Access”, “Detailed Rules for Market Fair Competition”. In particular, the government should support private-owned enterprises with mature conditions to enter finance and petroleum fields through various forms, so as to contribute to the fast and healthy development of Chinese economy.

Fourthly, it is hoped that while opening up private investment, relevant government departments should offer necessary cultivation, support and safeguard measures in management system, operation mechanism, finance, taxation and banking aspects to the burgeoning high quality private investment. All government departments should perform their respective duties, while strengthening supervision of private investment, establish well-developed service system. On the one hand it should let private investment gradually enter fields with steady return, high benefit, and long cycle, on the other hand, it should also ensure private investment to enjoy fair market competition environment, it should also adopt effective measures to encourage and support private investment to “walk out”, and enter international market.

Finally, Wang Junjin said, what the private-owned enterprises most hope is that the detailed rules could be more refined and feasible for operation than the documents of the State Council, what worries them most is the detailed rules will be compromised. “When unveiling the detailed rules, the government must strengthen guidance and supervision of media and public opinions, in order to effectively implement the policies.”