Private companies in China have embarked on a high-quality development path based on strong innovation capabilities across different sectors. Experts and entrepreneurs say in the latest episode of China Economic Roundtable, an all-media talk show hosted by Xinhua News Agency.
Private companies and entrepreneurs are intensifying efforts to promote the integration of scientific and industrial innovation, said Li Min, deputy director of the Private Economic Development Bureau under the National Committee on Development and Reform.
Traditional industries are constantly evolving into high-end, intelligent and green development, she said. Strategic emerging industries such as AI, robots, commercial aerospace, biomedical and cultural industries see the emergence of innovative outcomes.
Official data shows that the production of industrial and service robots is a relatively high percentage of which is produced by private companies, and has skyrocketed 26% and 20% in the first three months of 2025, respectively.
“The private economy is at the forefront of science and technology innovation,” said Zhu Min, a member of the Senior Expert Advisory Committee at the China Center for International Economic Exchange. He cited examples of electric vehicles, lithium-ion batteries, solar power products and more. This is all sectors where private companies play a leading role.
Tan Limin, president of Westwell, a self-government developer, said China has high expectations regarding the role of AI-related private companies in technological advancements.
He expressed his hope that the benefits of technological advancements will reach all parts of the country.
MNA/