NO.172

Wang Junjin Invited to “Dialogue” to discuss “Lighting up the Sky of Private-owned Enterprise Sector with Opening up”
ReleaseDate: 2011-08-01

On July 17, Chairman of JuneYao Group Wang Junjin was invited to the “Dialogue” program of CCTV Finance Channel, and joined Huang Mengfu, Vice Chairman of CPPCC National Committee and Chairman of All China Federation of Industry and Commerce, to discuss “Lighting up the sky of private-owned enterprise sector with opening up”.

During the program, Huang Mengfu contributed detailed analysis on hot spot issues such as the current difficult financing condition for SMEs (small and medium enterprises), and whether or not the “New 36 Articles” could bring the opportunity for the private-owned enterprise sector to achieve business transformation. He argued that in order to resolve the difficult financing problem for SME, it is necessary to build up a multi-level financial service system. Regarding the one-year old “New 36 Articles”, Huang Mengfu thought that up till now its implementation was far from satisfactory, sometimes some monopoly practices were even worsening. He also pointed out that SMEs are facing an urgent need of business transformation.

As a representative of private owned capital which grew up amid the narrow space left by state monopoly, Wang Junjin argued that the growth of private-owned enterprises must also complement state-owned enterprises, “The ‘Non Public Ownership 36 Articles’ opened up the gate to aviation sector for us, although JuneYao Airlines is still existing in narrow space, we have clarified our own segmented market with differentiated focus, and are competing with state-owned airline companies in a staggered manner, with which we are able to bring benefits to the aviation network by filling in unoccupied market.”

Wang Junjin said he was fully confident about the economic growth of private-owned enterprises in the next five years, he argued that private-owned enterprises must clarify their own positioning in the macro environment, and develop clear vision and specific development target, meanwhile they must also closely follow their plans in enterprise transformation and innovation.