A workshop of a leisure car (RV) manufacturing firm is seen in Rongcheng, East China’s Shandong Province on November 17, 2025. Local producers are ramping up efforts to grab worldwide market alternatives with technological innovation. Photo: VCG
Private firms accounted for greater than 90 % of China’s high-tech enterprises as of the tip of 2024. Their main position in scientific and technological innovation continues to develop, cementing their standing as a significant position of new high quality productive forces, China Central Television (CCTV) reported on Tuesday, citing a research.
As of the tip of 2024, personal enterprises accounted for greater than 80 % of each the specialised, refined attribute and novel “little giant” firms as nicely as corporations listed on the Science and Technology Innovation Board. For the primary time, the group turned the most important participant in China’s high-tech product imports and exports with a 48.5 % share, based on the research titled China Private Enterprises Social Responsibility Report (2025).
The report was issued on Tuesday by the All-China Federation of Industry and Commerce (ACFIC) in Changsha, Central China’s Hunan Province, the CCTV report famous. The end result was based mostly on responses from 33,988 personal enterprises that participated within the analysis, together with ACFIC govt committee enterprises, listed corporations and the highest 500 Chinese personal enterprises.
The prime 1,000 personal enterprises in phrases of analysis and growth (R&D) spending invested 1.43 trillion yuan ($202.8 billion) on such actions, with 112 of them rating among the many world prime 1,000 in R&D spending, based on the report. The information additionally confirmed that 71.6 % of personal enterprises achieved year-on-year progress in R&D funding.
Wang Peng, an affiliate researcher on the Beijing Academy of Social Sciences, advised the Global Times on Tuesday that the report highlighted personal corporations’ pivotal position within the nationwide push for better self-reliance and power in science and expertise as nicely as constructing the nation right into a sci-tech powerhouse.
Private corporations, that are versatile in responding to market demand and prepared to take greater funding dangers, may actively discover the built-in growth of scientific-technological innovation and industrial innovation in such sectors as synthetic intelligence, huge information, clever driving, and biotechnology, analysts mentioned.
“Private companies could drive the demonstration and application of new technologies, new products and new scenarios, making themselves a prominent force in the development of new quality productive forces,” Wang mentioned. China’s high-quality financial growth additionally presents a “historical chance” for personal firms to embark on industrial upgrading and additional transfer up the worldwide worth chain.
The report additionally highlighted personal enterprises’ position in stabilizing employment and driving inexperienced transformation. According to the survey, taking part personal firms have generated 12.75 million jobs, with 71.4 % sustaining steady or increasing workforce ranges, the report mentioned.
One of the primary traits of Chinese personal enterprises fulfilling their social tasks is a end result of coverage impact, the report mentioned. In latest years, related insurance policies and measures on the sustainable growth of personal enterprises launched by the central and native governments have supplied directional steerage for personal enterprises in fulfilling their social tasks, thereby stimulating their endogenous motivation, mentioned the report.
Global Times