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Private firms showing strong vitality amid challenges

By Ouyang Shijia, Yin Mingyue and Ma Mengmeng | chinadaily.com.cn | Updated: 2026-03-20 16:33
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China's private enterprises are demonstrating strong vitality despite external uncertainties and economic transformation pressures, said Qi Xiangdong, chairman of Qi-Anxin Technology Group.

"Amid a complex external environment, private enterprises have neither lain flat nor retreated," Qi told China Perspective in a recent interview. "Instead, they are moving forward steadily under pressure and breaking new ground."

He said the sector's dynamism is reflected in several areas, particularly technological innovation, industrial chain development and global expansion.

In frontier technologies, private companies are advancing rapidly in fields such as embodied intelligence, with robotics manufacturers represented by Unitree Robotics accelerating industrialization and showing strong growth potential.

Private firms are also playing a growing role in strengthening industrial chains, from major national engineering projects to emerging sectors in local economies, helping to upgrade traditional industries and foster new ones, Qi said.

Meanwhile, he said high-quality products represented by the "new trio" — electric vehicles, lithium-ion batteries and photo-voltaic products — are expanding overseas, while cross-border e-commerce and China's "trendy brands" economy are gaining popularity worldwide.

Qi also called for more effective policy implementation to support long-term investment and innovation of private companies.

"The implementation of the law on promoting the private economy has provided important reassurance for entrepreneurs," he said, adding that further efforts are needed to address the "last mile" challenge in policy implementation in some grassroots-level regions.

Lyu Jinkai and Dilinazi Dilimulati contributed to this story.

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