Speaking in a closed-door meeting, Chinese President Xi Jinping called on private firms and entrepreneurs to be ‘patriotic’ and participate actively in charity undertakings, state radio reported
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.
Xi also said that private firms should share the fruits of their growth with employees more equitably, in what he called a “community of shared interests”. “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.
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