BEIJING – The National Development and Reform Commission (NDRC) said on Tuesday that it will accelerate the implementation of existing supportive policies and strengthen policy research and reserves to bolster the high-quality development of the private sector.

In a statement, the NDRC, the country's top economic planner, said it held a meeting on Tuesday with five private domestic companies, including ride-hailing firm Didi Chuxing and high-precision components and smart hardware maker Goertek, to solicit their opinions and suggestions on economic development as well as response to additional US tariffs.

Zheng Shanjie, head of the NDRC, said at the meeting that the commission will refine its regular communication mechanism with private companies, listen to their feedback and assist them in overcoming difficulties.

Facing risks and challenges from abroad, including the additional tariffs imposed by the United States, China will steadily promote its reform and opening up and insulate the country against external uncertainties through internal certainties, Zheng said.

Representatives of the five companies expressed their preparedness for the additional US tariffs, noting that they are actively adopting measures to cope with the situation.

As the country enjoys a stable domestic environment and a huge market, the entrepreneurs said they are confident in overcoming challenges and achieving better growth.

Full support for central SOEs

The same day, China's State-owned Assets Supervision and Administration Commission of the State Council (SASAC) said it fully supports central state-owned enterprises in expanding share purchases and buybacks to safeguard shareholders' rights and consolidate market confidence.

The regulator will actively advise central SOEs and their listed subsidiaries to strengthen efforts in share purchases and buybacks, and enhance corporate value, said an official with the SASAC.

The commission also pledged to intensify guidance concerning market value management for central SOEs, driving them to provide quality investment targets that are responsible, performance-driven and sustainable for investors, while making further contributions to the healthy and stable development of the capital market.

These remarks were made after several listed companies held by central SOEs announced share buybacks on Monday and Tuesday, underscoring their robust confidence in the long-term prospects of the country's economy and capital market.

China National Petroleum Corporation on Tuesday disclosed that it will buy A-shares and H-shares over the next 12 months, with a total investment of up to 5.6 billion yuan ($777.37 million), while China Petroleum and Chemical Corporation announced a similar 12-month purchase plan worth up to 3 billion yuan targeting shares listed in Shanghai and Hong Kong.

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China Electronics Technology Group Corporation said it had already completed over 2 billion yuan in buybacks for its listed subsidiaries and pledged to accelerate further acquisitions to strengthen sci-tech innovation synergy and safeguard shareholder interests.

Also on Tuesday, China Electronics Corporation expressed firm confidence in China's capital market, pledging to advance high-level technological self-reliance amid long-term optimism about the country's economic outlook.

The company, a key player in China's cyberspace and information technology sector, said it would bolster market value management for its listed units through share purchases, increased holdings, and mergers and acquisitions.

Emphasizing its commitment to driving the green transition and pledging active share purchases, China Huaneng Group Co Ltd said that its subsidiary Inner Mongolia MengDian HuaNeng Thermal Power Corp Ltd had already initiated share purchases.

China National Coal Group detailed a multi-tiered investment strategy that included respective injections of up to 80 million yuan and 50 million yuan into its subsidiaries China Energy and Shanghai Energy, while it planned to advance ongoing repurchases for Xinji Energy.

Reaffirming their patient capital approaches, central state-owned investment firms, including China Chengtong Holdings Group Ltd and China Reform Holdings Corporation Ltd, also increased their stock holdings or disclosed plans to accelerate share purchases on Monday.

China National Petroleum Corporation on Tuesday disclosed that it will buy A-shares and H-shares over the next 12 months, with a total investment of up to 5.6 billion yuan ($777.37 million), while China Petroleum and Chemical Corporation announced a similar 12-month purchase plan worth up to 3 billion yuan targeting shares listed in Shanghai and Hong Kong.

China Electronics Technology Group Corporation said it had already completed over 2 billion yuan in buybacks for its listed subsidiaries and pledged to accelerate further acquisitions to strengthen sci-tech innovation synergy and safeguard shareholder interests.

READ MORE: Central SOEs to rely on strategic emerging, future industries

Also on Tuesday, China Electronics Corporation expressed firm confidence in China's capital market, pledging to advance high-level technological self-reliance amid long-term optimism about the country's economic outlook.

The company, a key player in China's cyberspace and information technology sector, said it would bolster market value management for its listed units through share purchases, increased holdings, and mergers and acquisitions.

Emphasizing its commitment to driving the green transition and pledging active share purchases, China Huaneng Group Co Ltd said that its subsidiary Inner Mongolia MengDian HuaNeng Thermal Power Corp Ltd had already initiated share purchases.

China National Coal Group detailed a multi-tiered investment strategy that included respective injections of up to 80 million yuan and 50 million yuan into its subsidiaries China Energy and Shanghai Energy, while it planned to advance ongoing repurchases for Xinji Energy.

Reaffirming their patient capital approaches, central state-owned investment firms, including China Chengtong Holdings Group Ltd and China Reform Holdings Corporation Ltd, also increased their stock holdings or disclosed plans to accelerate share purchases on Monday.