Industry leaders call for better business environment at China's Davos

APD NEWS

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The three-day 18th annual Yabuli China Entrepreneurs Forum is concluding Thursday, with more than 500 business leaders from multiple sectors in attendance in the northeastern Chinese town of Yabuli.

The participants held discussions to draw on the lessons learned during the past four decades of reforms and opening up as well as to drive the country into the next phase of its development.

"Entrepreneurship in the New Era" is the theme of this year's forum.

What does the concept of “entrepreneurship” mean in China, and how is it different from other countries?

Business tycoon Liu Chuanzhi addressed the question in the opening address.

"Chinese entrepreneurs have a special spirit to pursue; they have non-stop pursuits, with a sense of mission. Secondly, they are smart, willing to bear hardship and learn new things. This tenacity is different from business leaders in other countries," he said.

Having founded his Lenovo Group in 1984 – a crucial juncture in China's reforms and opening up program – Liu admits his entrepreneurial spirit wouldn't have had a platform to blossom without former Chinese leader Deng Xiaoping's vision.

This gratitude has been echoed by many prominent Chinese business leaders at the forum, such as Yu Minhong, Chairman, and CEO of New Oriental Education and Technology Group.

“I was born into a farmer's family. I was lucky to enter a top university in China and start my own company in the early 1990s. Initially, it was an institution with just a dozen employees, but now it is listed on the US stock market. All of these achievements have been brought by our time. This is why we are here, to celebrate the 40th anniversary of opening up and reform,” said Yu.

He said he looks forward to another 40 years of opening up and reform. One question, however, remains: How will China maintain the momentum and stimulate even more business?

One of the most favored answers at the forum is to “build a better business environment”. For example, Lin Fan, Founder, and CEO at Beijing Taou Tianxia Tech said, “As an entrepreneur from the private sector, I hope restrictions on companies could further be reduced. This will aid China’s business development. Right now there is still a lot of room for improvement.”

Liu Chuanzhi shared the same sentiment, saying, “For example, there is not a single overseas Chinese in a county of an inland province, yet there is an overseas Chinese affairs office with several staff members. Such bureaucracy must be evacuated because only a better business environment can lead to a more prosperous China."

It is interesting to note that Yabuli, a place which recently embroiled in controversy over government's interference in private businesses, is hosting a forum, which aims to become China’s Davos and advocates a healthy environment.

Business leaders from across the country gathered, calling for higher government efficiency, less corruption, and more protection of property rights.

(CGTN)