Forty years on since the country's reform and opening-up, private businesses are blossoming, and the private sector has grown bigger and stronger, Xi said.

The sector has played an important role in stabilizing growth, promoting innovation, adding jobs and improving livelihoods, he added.

"The historical contribution of the private sector cannot be written off, and the sector's position and role is beyond any doubt. Any opinions or actions that deny or weaken the private sector are wrong," he said.

Xi said he hopes entrepreneurs seize the overarching trend of the times, shore up confidence for growth and stay focused on innovations and creativity.

This is the second time Xi has voiced his support for the private sector recently.

During a four-day inspection to Northeast China in late September, Xi said the country will continue to create a good legal environment and further refine the business climate for private businesses.

China will unwaveringly develop the public sector, and ceaselessly encourage, support, guide and protect the growth of the private sector, he said.