(Yicai Global) Nov. 2 -- Chinese entrepreneurs have reacted positively to new measures for the private sector proposed the country's head of state.

Chinese President Xi Jinping, also general secretary of the Communist Party of China Central Committee, outlined six measures to facilitate the development of the country's private sector and help solve difficulties being faced by private enterprises, state-owned news outlet CGTN reported yesterday.

The measures include offering tax relief for companies, expanding financing channels, creating an equal business environment, improving policy implementation, building close but upright relations between the government and businesses, and protecting entrepreneurs' personal safety and properties.

Xi made the remarks while presiding over a symposium on private enterprises in Beijing yesterday.

Xi knows the current problems the private sector is facing and his remarks offer guidelines for private companies to better understand the economic situation, said Yan Zhi, chairman of wholesale shopping mall operator Zall Smart Commerce. Under Xi's requirements, entrepreneurs should aim to improve the internal strength of their companies, focus on their respective industries and be experts in their core business, he added.

Xi's comments are very clear and timely, and also very thought-provoking, added Zhang Jindong, chairman of retail giant Suning.Com, saying the six measures will further stimulate enthusiasm for innovation among private entrepreneurs.

The remarks convince businessmen that private companies will develop as China's reform and opening up intensify, he continued, adding that private companies must assume a wider sense of national responsibility and create greater social value.

Xi not only knows the difficulties the private sector faces but also provided many favorable policies to help private firms overcome difficulties, Huang Li, president of Hubei-based weapon systems maker Guide Infrared, told Yicai Global yesterday. These difficulties arise from changes in internal and external environments as well as the companies themselves, and the central government pays high attention to these problems and will bring in more policies to combat them, such as reduced taxes, easier finance and better market access, he added.

The new policies will also enhance the integration of the military and general public, building a new relationship between government and business to ensure entrepreneurs' safety, Huang said.

Editor: James Boynton