A highly anticipated symposium on private enterprises was held in Beijing on Monday, where President Xi Jinping delivered a keynote speech after engaging with leading private entrepreneurs. Among the attendees were Huawei’s founder Ren Zhengfei, BYD’s Wang Chuanfu, New Hope Group’s Liu Yonghao, Will Semiconductor’s Yu Renrong, Unitree Robotics’ Wang Xingxing, and Xiaomi’s Lei Jun.
Unwavering Support for Private Enterprises
President Xi reaffirmed his steadfast commitment to China’s private sector, emphasizing that the fundamental policies supporting its development are deeply embedded in the national institutional system. “This cannot and will not change,” he assured.
He called for the removal of obstacles hindering equal access to production factors and fair market competition. Xi urged for the competitive areas of infrastructure to be opened fairly to various business entities and emphasized the need to address the challenges private enterprises face in obtaining affordable financing.
Protecting the lawful rights and interests of private enterprises and entrepreneurs according to the law was another key point in his speech.
Promoting High-Quality Development
Highlighting the crucial role of private enterprises in China’s broader goals, President Xi encouraged entrepreneurs to focus on high-quality development. He urged them to invest in their primary businesses, enhance their capacities for innovation, and strengthen their core competitiveness.
The presence of tech giants like Huawei, BYD, and Unitree Robotics underscored the symposium’s focus on technological advancement. The private sector plays a pivotal role in driving China’s innovation, accounting for over 92 percent of its high-tech enterprises and over 70 percent of the country’s technological innovation achievements.
Pushing Ahead in the Global Market
From pioneering electric vehicles and leading global green transformation to breakthroughs in robotics and gaming, Chinese private enterprises have propelled the nation forward on the world stage. Companies like DeepSeek and the international acclaim for games like “Black Myth: Wukong” showcase the innovative spirit fueling China’s private sector.
As China continues to encourage greater participation of private enterprises in major national projects, the private sector’s contribution remains integral to the country’s economic and technological progress.
