On February 17, 2025, Chinese President Xi Jinping attended a symposium with private entrepreneurs and delivered an “important speech.” The main attendees were representatives of China’s private bourgeoisie, such as Huawei CEO Ren Zhengfei, BYD Chairman Wang Chuanfu, and others. According to Voice of America, Liang Wengfeng, founder of Shen Duo Seek, also attended the meeting. Xi Jinping stated at the meeting, “Some of the difficulties and challenges faced by the current private economy are generally arising from the process of reform, development, and industrial transformation and upgrading. They are localized rather than overall, temporary rather than long-term, and solvable rather than intractable.” “Seeing the future, the light, and the hope amid difficulties and challenges, maintaining development confidence, strengthening development faith, and keeping the fighting spirit of loving to fight and win.”
“The ruling class in China is the bourgeoisie, among which the dominant force is the bureaucratic monopoly bourgeoisie. Although there are certain contradictions between the private bourgeoisie and the bureaucratic monopoly bourgeoisie, fundamentally, the private bourgeoisie is an attached class dependent on the bureaucratic monopoly bourgeoisie.” (Fenghuo “China’s Future Revolutionary Road”) It can be seen that this meeting, in name, aims to boost confidence in the “private economy,” but in reality, Xi Jinping, as a representative of the bureaucratic monopoly bourgeoisie, is signaling a relaxation of the contradictions with the private bourgeoisie on behalf of his class. Previously, the Jiangsu Provincial Committee issued three articles questioning why Nanjing’s business environment is not as good as Hangzhou, and why there are no “Six Little Dragons of Hangzhou” (referring to Game Science, Shen Duo Seek, Yushu Technology, Yunchenshu Technology, Qiangnao Technology, and Quannuo Technology). Essentially, the message is consistent: signaling the government’s intention to improve the business environment.
Such meetings are not the first in history. In November 2018, due to the trade war between China and the U.S., China’s economy faced difficulties. To unite the private bourgeoisie to overcome the crisis, a so-called “Private Enterprise Symposium” was also held, emphasizing: “The prospects for the development of the private economy are broad and promising, and private enterprises and entrepreneurs are showing their talents at the right time.” Today, with internal economic crises, market decline, high government debt, and people’s suffering, the stimulative effects of Keynesian policies are weakening; externally, after Trump took office, the U.S. has eased its policies towards Russia, and talks between Trump and Putin are imminent, preparing to engage in imperialist competition targeting the Chinese government. Can the current joint efforts of the government and the private sector truly “overcome difficulties”?
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Ma Yun: “Great, the Confucian pig is here too!”
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I feel like we could include some concrete data, such as how much revenue the