A staff member assembles new energy-powered golf carts on a production line in Shandong province, on Nov 14, 2024. [Photo/Xinhua]
The private enterprise symposium held in Beijing on Feb 17 energized confidence in the capital market, and became a hot topic among institutions, according to a Sina Finance report on Wednesday.
Scientific and technological innovation enterprises accounted for a high proportion at the symposium, especially future industries such as artificial intelligence and humanoid robots.
Participating enterprises were concentrated in the new energy sector, such as China's major battery maker CATL, global smart energy solutions provider Chint, automobile manufacturer BYD, and high-tech firms engaging in automobile manufacturing like Huawei and Xiaomi, semiconductor producer Willsemi, enterprises from other sectors, such as Unitree Robotics, Alibaba Group, Tencent and DeepSeek etc.
"The symposium is of great significance for the high-quality development of private enterprises, helps to boost the confidence of micro entities and market risk appetite, and has a decisive effect on the market," said Zhang Jun, chief economist of China Galaxy Securities.
The symposium delivers a clear message that private firms should stick to high-quality development unswervingly, and stresses that enterprises should "strive to make more contributions to promoting scientific and technological innovation, cultivating new quality productive forces, constructing a modern industrial system, promoting comprehensive rural revitalization, promoting coordinated regional development, and ensuring to improve people's well-being."
The importance of the conference lies in the continued effort to promote the high-quality development of private enterprises, while also paying more attention to create a more advanced industry with a more coordinated development, Zhang added.
Among China's "little giant" businesses and unicorn companies, the private enterprises accounted for over 80 percent and 90 percent in 2024, respectively, said Li Chao, chief economist of Zheshang Securities.
"Little giants" refer to the novel elites of small- and medium-sized enterprises engaged in manufacturing, specializing in a niche market and boasting cutting-edge technologies.
CITIC Securities said that the central government provides consistent support for private enterprises, and will focus on creating a better development environment for private firms in terms of strengthening fairness and improving the rule of law. With policy support, private enterprises may further play their strengths and showcase their skills in scientific and technological innovation.
Analysts believe that this symposium and the upcoming national two sessions are expected to further stimulate the vitality of private enterprises, becoming a pivotal point for a new round of scientific and technological breakthroughs across the country, and the capital market is also expected to benefit significantly.
"The current enthusiasm of global assets for China's economy and capital markets is not only based on short-term technological breakthroughs but also a reassessment of China's economic system in a deep sense," Zhang added.
