Xi says China will unwaveringly support private economy

President Xi Jinping . Credit: Reuters Photo

China will unwaveringly support the private economy and let the market play decisive role in resource allocation, President Xi Jinping said in a speech on Sunday at the opening of the once-in-five-year Communist Party Congress in Beijing.

China will aim for high-quality economic growth and the next five years will be crucial for building a modern socialist power, Xi said.