On November 20, in its column titled “Private entrepreneurs study the implementation of the spirit of the 5th plenary session of the 19th Central Committee of the Communist Party of China”, China Business Times published the reflections on and comprehension of the study of Yintai Group Founder and Chairman, Shen Guojun, who is also Executive Chairman (Global) of the General Association of Zhejiang Entrepreneurs and President (Global) of the General Association of Ningbo Entrepreneurs. The full text is as follows:

Given the impact of the global pandemic and economic downturn, the 5th plenary session of the 19th Central Committee of the Communist Party of China was convened successfully. At the historic juncture of the “Two Centenary” goals, a new journey to comprehensively build a socialist and modern nation was launched. Our private enterprises are encouraged to stride forward with a better sense of direction, and greater confidence and strength based on a wonderful blueprint of the new era.

The plenary session highlighted that the real economy must remain firmly the priority of economic development. Both the development of modern services and digital development should be accelerated, and a large and strong domestic market formed. A new development pattern should be built where the strategic focus of expanding domestic demand should be adhered to, and the nurturing of a complete domestic demand system accelerated. The implementation of the domestic demand strategy should be organically combined with deeper supply-side structural reform so that innovation-driven and high-quality supply can lead and create new demand.

As builders of the economy, we, the private enterprises, must bear our mission in mind, and actively participate in building the new development pattern, and contribute to the building of the “14th Five-Year Plan” and the realization of the 2035 goals. During prevention and fight against COVID-19, private enterprises have not only taken up their responsibility by working together, but have also played a key role in stabilizing resident employment and promoting economic recovery. Under the Party's leadership, the strong vitality and stress tolerance of private enterprises have filled us with confidence about the future development prospects of our economy.

Both Zhejiang entrepreneurs in general and the Yintai Group will actively take part in the building of the nation’s economy and social development. We, Zhejiang entrepreneurs, will continue to venture forward boldly and give play to the pioneering and innovative spirit to drive real industrial development and promote industry to serve the country. Yintai Group will also leverage its own business advantages, particularly its commercial and retail channels to foster complementary cooperation between domestic and foreign trade enterprises, and help private enterprises achieve high-quality growth under the new development pattern.