Five CPPCC National Committee members share their views on optimizing business environment and promoting high-quality development of private economy in Beijing on March 6, 2019.

Here are the highlights:

Private companies play crucial role in economic development: Liu Shijin

Private economy and the national economic and social development have become a community with a shared future, said Liu Shijin, former deputy head of the Development Research Center of the State Council.

Private enterprises play a vital role in China's economic development, contributing 50 percent of fiscal revenue, 60 percent of GDP, 70 percent of technical innovation, 80 percent of urban employment, and 90 percent of total enterprises and newly-added employment, Liu said.

Stabilizing expectations of private enterprises come from equal and fair competition, as well as long-term stable legal environment, said Liu, who is also a member of the National Committee of the Chinese People's Political Consultative Conference.

To solve financing difficulties faced by China's small and medium-sized enterprises, Liu said the current financial enterprises should deepen reforms, and develop a batch of financial institutions and products that offer specialized services for private SMEs.