private economy; privately-owned economic sector
Tone colorsmāmámǎmàma
Meanings
1 sense · 4 examplesnoun
private economy; privately-owned economic sector characterized by private ownership of assets and employment relationships
neutralRefers to the economic sector where means of production are privately owned and wage labor exists. It constitutes an important component of the socialist market economy in China, distinct from state-owned and collective economies.
Sī私
yíng营
jīng经
jì济
shì是
shè社
huì会
zhǔ主
yì义
shì市
chǎng场
jīng经
jì济
de的
zhòng重
yào要
zǔ组
chéng成
bù部
fen分
。
The private economy is an important component of the socialist market economy.
Gǎi改
gé革
kāi开
fàng放
yǐ以
lái来
，
sī私
yíng营
jīng经
jì济
dé得
dào到
le了
kuài快
sù速
fā发
zhǎn展
。
Since the reform and opening up, the private economy has developed rapidly.
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Guó国
jiā家
chū出
tái台
le了
yī一
xì系
liè列
zhèng政
cè策
bǎo保
hù护
sī私
yíng营
jīng经
jì济
de的
hé合
fǎ法
quán权
yì益
。
The state has introduced a series of policies to protect the legitimate rights and interests of the private economy.
Yǔ与
guó国
yǒu有
jīng经
jì济
bù不
tóng同
，
sī私
yíng营
jīng经
jì济
yǐ以
gù雇
yōng佣
láo劳
dòng动
wéi为
jī基
chǔ础
。
Unlike the state-owned economy, the private economy is based on wage labor.