China's Xi urges private firms to 'be rich and loving' in pursuit of prosperity for all

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China's Xi urges private firms to 'be rich and loving' in pursuit of prosperity for all
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Chinese President Xi Jinping said on Monday private companies should be 'rich and loving' by shouldering a responsibility along with state-own firms to achieve prosperity for all.

"Be rich and responsible, be rich and benefit others, be rich and loving," state radio cited Xi as saying.

"The problem with 'common prosperity' is it can lead to a very uncertain tax burden, unlike the official corporate tax rate as stated by law," Alfred Wu, associate professor at the Lee Kwan Yew School of Public Policy at the National University of Singapore, told Reuters. Xi said on Monday that China would always treat private firms and entrepreneurs as "family" and promised to remove institutional obstacles that prevent private companies from being able to compete fairly, according to state radio.

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日本 最新ニュース, 日本 見出し

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