China\u2019s private enterprises took center stage at a high-level symposium this week, with top leaders reaffirming commitments to bolster innovation and stabilize economic momentum. The meeting, attended by senior policymakers, highlighted the sector\u2019s critical role in driving 70% of technological breakthroughs and contributing 60% of GDP growth in 2023.
\u201cPrivate businesses are the backbone of our economy and a key force for solving development challenges,\u201d stated one official during the event. Recent data shows private firms created 15 million new jobs last year, underscoring their social impact alongside economic contributions.
Analysts note the symposium signals stronger policy support for startups in AI, green tech, and advanced manufacturing. Drone manufacturer DJI and EV pioneer NIO were cited as global success stories benefiting from China\u2019s innovation ecosystem.
With youth unemployment remaining a priority, officials announced expanded mentorship programs and tax incentives for SMEs hiring recent graduates. Cross-strait collaboration also featured in discussions, with Taiwan-based tech firms reportedly exploring partnerships in Fujian\u2019s new \u2018Digital Silk Road\u2019 industrial park.
Reference(s):
cgtn.com
