Biz: Hu urges private businesses to develop

BEIJING - Chinese President Hu Jintao said Thursday the country's private businesses are now standing on a new starting line and urged them to seize opportunities for development.

Non-public enterprises should have a clear understanding of the current situation, seize the opportunities and score greater achievements in helping accelerate the transition of the country's economic growth pattern and improve people's livelihoods, and strengthening their own competence, Hu told the members of the National Committee of the Chinese People's Political Consultative Conference (CPPCC).

Hu said he is glad to see more Chinese private enterprises are seeking business opportunities overseas and have obtained progress, but he warned them to guard against risks while seeking overseas expansion.

The political advisors at the panel discussion were from the non-communist China National Democratic Construction Association and the All China Federation of Industry and Commerce, an organization of private entrepreneurs.

Jia Qinglin, chairman of the CPPCC National Committee, also joined in the discussion.