I want to ask if you dare.

While the General Office of the State Council issued a document on July 19 supporting the private sector, local governments across the country have been holding a series of symposiums with private entrepreneurs.

Behind this nationwide “coordinated effort” lies a further strengthening of the foundation for economic recovery. Fundamentally, this recovery depends on the proactive efforts of 170 million market entities.

The July meeting of the Political Bureau of the CPC Central Committee identified the current difficulties and challenges: insufficient domestic demand (people lack disposable income), operational difficulties faced by some enterprises (such as private enterprises), significant risks in key sectors (such as municipal investment bonds), and a complex and severe external environment (such as the Russia-Ukraine conflict and U.S.-China relations).

The meeting noted that economic recovery is a process of undulating development and tortuous progress. Private enterprises, in particular, feel these undulations and twists and turns most acutely.

Even so, as long as there is a glimmer of hope, no enterprise is truly willing to “give up.” Those determined to survive by any means necessary and turn the tide against the headwinds—such enterprises continue to create miracles of economic development.

China is currently in a critical phase of economic recovery.

Whether we can successfully navigate these challenges depends, on the one hand, on policy—specifically, the precise implementation of fiscal and monetary policies, as well as the continuation of various support measures. On the other hand, it depends on enterprises and entrepreneurs—on the endurance and resilience of enterprises, as well as the keen insight and swift response of entrepreneurs. For enterprises and entrepreneurs are the very source of the Chinese economy’s resilience; their steadfastness can stabilize employment and, in turn, stabilize the broader economy.

The article “The First Half of the Year for Investment Promotion Professionals, and the Second Half” mentioned the “cautious approach to corporate investment” in the first half of the year, as well as the “redoubled efforts of government investment promotion personnel.”

But setting aside emotional factors, for enterprises, blaming others serves no purpose. Rather than passively waiting for policies, it is better to proactively adjust.

Economist Xu Xiaonian cuts to the heart of the matter:

The reason why pessimism pervades the business community today is largely because this generation of entrepreneurs has never experienced an economic downturn. Looking back at the entrepreneurs of the early reform and opening-up era, they operated in far harsher environments and in markets much smaller than today’s. If they could survive and thrive to this day, why can’t today’s entrepreneurs do the same?

If we look at the bigger picture, the rise and comebacks of many global giants have also occurred during “times of crisis.”

In 1994, Mexico faced an economic crisis, and nearly all companies were scaling back their investments there. Yet Coca-Cola seized the opportunity to increase its investment, resulting in unprecedented growth.

During the 2008 global financial crisis, the “Big Three” of the U.S. auto industry—General Motors, Ford, and Chrysler—saw their sales plummet, yet France’s L’Oréal defied the trend with rising sales, while Japan’s Shiseido and Uniqlo also experienced explosive growth that year.

The economics community has reached this conclusion: without uncertainty, companies would have no profits; without uncertainty, there would be no entrepreneurial spirit. While uncertainty alters expectations, it also disrupts the equilibrium, offering companies that are always prepared the opportunity to turn the tide against the odds.

Moreover, in this interconnected digital age, even the slightest change can trigger a butterfly effect that sparks new opportunities or even transformative change. Every single effort—one in 170 million—will converge to form the powerful pulse of economic recovery.

Therefore, no market entity—no matter how small—should feel inferior, nor should we underestimate the significance of every effort made by these seemingly fragile forces. Businesses need more support at this very moment; please cherish every one-in-170-million effort.

When countless enterprises and entrepreneurs dare to act, dare to pioneer, and dare to invest, we have every reason to be filled with hope for the best possible future of China’s economy.