Gao Yunlong, vice-chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC) and chairman of the All-China Federation of Industry and Commerce (ACFIC), addressed the launch of the 2024 list of China's top 500 private enterprises in Lanzhou, Northwest China's Gansu province, on Oct 12.

Gao said the event was designed to implement the decisions and plans of the Communist Party of China (CPC) Central Committee and the State Council on supporting the growth and development of the private economy, and to encourage leading private enterprises to make even greater contributions to economic and social development.

Gao emphasized that the third plenary session of the 20th CPC Central Committee highlighted further deepening reforms comprehensively and advancing Chinese modernization, and put forward working mechanisms to facilitate the healthy development of the non-public sector. It also introduced a series of long-term and practical reform measures specifically designed to encourage, support and guide the development of the non-public sector, he said adding that these initiatives would further boost the development momentum and innovative potential of private enterprises.

Gao added that the recent meeting of the CPC Central Committee's Political Bureau reviewed the current economic situation and planned the next phase of economic work, with the government introducing a new package of incremental policies. He urged private enterprises, particularly large ones, to stay confident in development, prioritize innovation, improve corporate governance, promote the entrepreneurial spirit and fulfill their social responsibilities, striving to take the lead in high-quality development and corporate management reforms.

The event, which was co-hosted by the ACFIC and the Gansu provincial government, also released a research and analysis report on China's top 500 private enterprises.