Official data released so far displays downward fixed assets investment and bank credit, stable economic operation, and rapid economic growth, indicating effectiveness of the macro-control policy. Much of that can be attributed to the private sector which accounts for 60 percent of the national economy.

The private sector has attracted much attention in the course of the macro-control. As the bank credit and land supply are both tightened in the macro-control, private enterprises complained about the difficult access to credit and land. There were even doubts about the consistency of the central government's policy towards the private economy.

Federations of industry and commerce have visited many private entrepreneurs and employees working for them in coastal areas, as well as mid and west regions, and witnessed how private businesses survived and got stronger in the macro-control.

Having weathering ups and downs in the market economy, private entrepreneurs are always ready to turn rough time into opportunities. They have the obsolescent and rough operation replaced by a scientific way of running their businesses. In the process they have come to understand the real meaning and significance of the macro-control.

The philosophy of "people first" and the development in a comprehensive and harmonious way has become the idea the private sector is pursuing for. In many export-oriented firms in Zhejiang Province where private sector flourishes, the SA8000 system works to protect the interests and rights of labor. Migrant workers from around the country are paying more attention to their own interests and rights than to salaries. This also helps to upgrade and promote the corporate culture and build the modern corporate governance.

The macro-control also resulted to the reshuffling of industries. Companies with weak competitiveness were erased by the market. Only those successfully bringing down their costs and improving efficiency survive and thrive.

Going abroad is another way for the private sector to get out of woods. Lifan Industry Group, a motorcycle giant based in Chongqing municipality in southwest China, sells its products in more than 100 countries and regions worldwide. It has plants in US, Vietnam and Bulgaria. And its manufacturing facilities in India, Pakistan and Cambodia will be operational soon.

As Yin Mingshan, president of Lifan, puts it: " Against the backdrop of the macro-control, enterprises should take actions to face the challenge instead of taking a 'wait-and-see' attitude��. Our experience in the overseas market will make us more adaptive and vigorous."

The State Council is considering more stimuli to the private economy. The voice for giving wider and easier market access to the private sector is also rising in the country.

From July 24 to 25, a seminar focused on further development of the non-public economy was held in Qingdao, Shandong Province, by the State Council. Some private entrepreneurs were invited to the meeting where Vice Premier Zeng Peiyan gave a speech and Premier Wen Jiabao's important instructions were announced. A policy framework was discussed at the meeting, which was expected to remove hurdles of the development of the non-public sector, such as difficult financing channels and unequal treatment.

By People's Daily Online