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(China Economic Roundtable) Xinhua Headlines: China’s policy support boosts private sector’s healthy development

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China’s private sector saw robust industrial output growth in the first quarter of 2025, with its investment in manufacturing and innovation-driven development also accelerating.

The sector, constituting more than 90 percent of enterprises in the world’s second-largest economy, has forged ahead with steady expansion as the country reaffirms unswerving support for the sector’s growth amid challenges and difficulties.

In the latest episode of the China Economic Roundtable, an all-media talk show hosted by Xinhua News Agency, guest speakers focused on the important messages from a high-level symposium on private enterprises held in February, sharing insights on the private sector’s challenges and opportunities. Their discussions also shed light on the sector’s broad development prospects and immense potential.

UNSWERVING SUPPORT FOR THE PRIVATE SECTOR

Guest speaker Liu Min, deputy head of the private economy development bureau under the National Development and Reform Commission (NDRC), China’s top economic planner, told Xinhua that China’s private sector has supported overall national economic growth with a solid performance in the first quarter of 2025. Meanwhile, the symposium — attended by top Chinese leaders and representatives of private enterprises — has demonstrated the firm determination of the Party and the country to promote the private sector’s development.

« A clear message from the meeting is that the importance of the private sector in the Chinese economy cannot and will not be changed, » according to guest speaker Zhu Min, a member of the Senior Expert Advisory Committee of the China Center for International Economic Exchanges. He said the meeting has conveyed the message that full support from all levels of government is to be provided to promote the sector’s healthy development.

Official data shows that in the first quarter of 2025, the value-added industrial output of private enterprises increased 7.3 percent year on year, outpacing the growth rate of all industrial enterprises; private investment grew 0.4 percent year on year, shifting from a decline in 2024. Notably, private investment in the manufacturing sector grew by 9.7 percent. Meanwhile, the import and export volume of private enterprises rose 5.8 percent in the first quarter.

As a representative of private entrepreneurs who spoke at the symposium, Liu Yonghao, chairman of New Hope Group, a leading agricultural conglomerate in China, said at the roundtable that he felt deeply encouraged by the support the country has pledged for the private sector, saying that private firms must strive for new achievements by tapping into new quality productive forces and advanced technologies.

Tan Limin, chairman of Westwell, a Chinese tech firm engaged in AI applications and autonomous driving solutions, said the symposium has also shown the importance the government attaches to tech companies in the private sector, which would encourage private firms to continue with more investment in technological innovation.

PRIVATE ECONOMY EXPANDS AMID SUPPORTIVE MEASURES

Private enterprises in China continued to expand steadily in the first quarter of 2025 amid government efforts to spur growth in both the private sector and the broader economy. Newly established private firms numbered nearly 2 million during the period, marking an increase of 7.1 percent year on year, official data showed.

Over 40 percent of the newly established private firms during the January-March period were related to new technologies, products, business forms and models, the data showed. Currently, private enterprises contribute 70 percent of technological innovation in the country.

Liu Min said the government has intensified efforts to strengthen and optimize the supervision mechanism related to administrative charges levied on enterprises, address overdue payments owed to private enterprises, and continue efforts to ensure fair private sector access to competitive infrastructure and major national scientific research facilities. The government on Thursday published a new version of the market access negative list, which further reduced the number of items on the list from 117 to 106, a decrease of 11 items.

« Legislative work regarding the private economy promotion law is being accelerated, with the draft law expected to be submitted to lawmakers for a third reading, » she said. The proposed legislation, set to become China’s first fundamental law dedicated to the private sector, explicitly defines the private sector as a vital pillar of China’s socialist market economy, with observers expecting it to boost entrepreneurial confidence and encourage long-term investment.

Zhu said that Chinese private enterprises are highly competitive. He observed that over the past few years, Chinese private enterprises have sought to reduce costs and improve quality, with their share in the country’s total import and export volume having increased to over 56 percent, demonstrating resilience.

However, in the face of high tariffs, it is important that the country offer multi-pronged support for private enterprises through boosting domestic demand and providing financing support to help them navigate the challenge, said the economist.

BROAD DEVELOPMENT PROSPECTS

Guest speakers have voiced optimism in the Chinese private sector’s development prospects, believing that the huge Chinese market with over 1.4 billion people represents ample business opportunities for private enterprises.

Liu Min said that Chinese private enterprises are stepping up technological and industrial innovation efforts, as traditional industries are steadily evolving to high-end, intelligent and green, and strategic emerging industries such as AI, embodied robotics, commercial aerospace, and biomedicine, as well as the cultural sector, are thriving.

Liu Yonghao said there is great potential for traditional industries to upgrade by developing new quality productive forces. He gave an example of his firm’s investment in digitization and smart technologies applied in cold chain logistics, which have greatly helped protect the quality of perishable food products and mitigate waste. He made the company a leader in this business segment in the country.

Tan of Westwell said that by sticking to technological innovation for a decade, his company’s AI and autonomous driving technologies and solutions have entered the markets in 28 countries and regions, helping revolutionize container logistics with its AI-empowered digital and intelligent services.

According to Zhu, over the past 40-plus years, China’s private enterprises have grown rapidly, and there will be great opportunities in areas such as AI software development, new manufacturing, green development, and the service industry going forward. « I am very optimistic about the prospects of Chinese private enterprises. » ■

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Jointly Building a New Model of Global Leadership — Work Together in Pursuit of a More Just and Rational Global Governance System

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Global South media, think tank forum to open in South Africa

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The Global South Media and Think Tank Forum China-Africa Partnership Conference will be held on Thursday and Friday to discuss ways to strengthen global governance and deepen China-Africa cooperation.

More than 200 representatives from over 160 media outlets, think tanks, government organizations and other institutions from China and 41 African countries, as well as the African Union, will gather to engage in discussions under the theme « Reforming Global Governance: New Roles and Visions for China-Africa Cooperation. »

During the forum, guests from Global South countries will hold in-depth discussions on three topics: « China-Africa Commitments to Global Governance Reform, » « China-Africa Action for Global South Revitalization, » and « China-Africa Exchange in Global Civilizational Coexistence. »

Participants will also attend a series of activities, including a cultural exchange event between China’s Hunan Province and its African partners.

The forum will feature the release of a think tank report titled « Jointly Building a New Model of Global Leadership — Work together in Pursuit of a More Just and Rational Global Governance System, » and the launch of the Global South joint communication partnership network « United in Heart, Path and Action — 2026 China-Africa Partnership Empowerment Action Plan. »

Jointly organized by Xinhua News Agency and the African Union, the forum brings together Chinese and African participants with the aim of deepening exchanges and cooperation between media and think tanks.

They seek to amplify the main theme of the all-weather China-Africa community with a shared future for the new era, and to pool wisdom to make the Global South a stabilizing force for safeguarding peace, a pillar of open development, a constructive player in global governance, and a promoter of mutual learning among civilizations. ■

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Xinhua Headlines: Global South media, think tanks pool wisdom to improve global governance

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* Against the backdrop of profound changes unseen in a century, the awakening of the Global South and its growing cooperation have become an indispensable part of the international landscape, with China-Africa cooperation at the core.

* The highlights of China-Africa cooperation represent the Chinese vision of building a community with a shared future for humanity.

The Global South Media and Think Tank Forum China-Africa Partnership Conference opened here on Thursday to explore ways to strengthen global governance and deepen China-Africa cooperation.

The two-day event, co-hosted by Xinhua News Agency, the African Union (AU) and South Africa’s Independent Media, among other partners, gathered more than 200 representatives from over 160 media outlets, think tanks, government organizations and other institutions from China and 41 African countries, as well as the AU.

It focuses on how collaboration between media and think tanks can contribute to shaping a fairer and more inclusive global governance under the theme « Reforming Global Governance: New Roles and Visions for China-Africa Cooperation. »

STRENGTHENING CHINA-AFRICA SYNERGY

Against the backdrop of profound changes unseen in a century, the awakening of the Global South and its growing cooperation have become an indispensable part of the international landscape, with China-Africa cooperation at the core.

In 2015, 2018 and 2021, China successively announced at the Forum on China-Africa Cooperation (FOCAC) the implementation of the 10 cooperation plans, eight major initiatives and nine programs, drawing a blueprint for China-Africa cooperation.

Quoting an African proverb, « If you want to go fast, go alone; if you want to go far, go together, » Lyu Yansong, editor-in-chief of Xinhua News Agency, called on media and think tanks to take the conference as an opportunity to build consensus, strengthen solidarity and collaboration, and jointly create a better future in his keynote speech at the opening ceremony.

Addressing the event, Chinese Ambassador to South Africa Wu Peng shared three keywords on China-Africa cooperation — partnership, practicality and prospects.

« China is ready to work with African countries to implement the outcomes of the FOCAC Beijing Summit, further expand win-win cooperation across all fields, and speed up the common modernization of China and Africa, » said Wu.

Noting that the relationship between Africa and China has evolved over decades of solidarity, mutual respect and shared aspirations for development, Leslie Richer, the AU director of information and communication, said that Africa will work with China and other Global South partners to make its voice heard more strongly, while promoting more balanced narratives through closer media and think tank cooperation.

The event featured the launch of the Global South joint communication partnership network « United in Heart, Path and Action — 2026 China-Africa Partnership Empowerment Action Plan, » with the aim of better supporting the shared development of China and Africa.

Applauding the development of the Africa-China relationship, Jonathan Titus-Williams, deputy minister of planning and economic development of Sierra Leone, said that the partnership has long been characterized by solidarity and shared purpose grounded in mutual respect, equality, and a collective aspiration for a just and peaceful world.

As the permanent host of the China-Africa Economic and Trade Expo, China’s Hunan province has made great efforts in recent years to promote cooperation in various fields such as agriculture, green energy and industrial chains with African partners.

Recognizing the expo as an important initiative under the FOCAC’s major action plans, Shen Yumou, head of the Hunan provincial commerce department, said that Hunan has been aiming to enhance China-Africa cooperation, focusing on building six major centers for trade in non-resource products, cross-border e-commerce, industrial development, financial cooperation, logistics and trade promotion, to serve as a strategic hub for China-Africa economic ties.

PROMOTING INCLUSIVE GOVERNANCE

At the conference, the Xinhua Institute, a think tank affiliated with Xinhua News Agency, released a report titled « Jointly Building a New Model of Global Leadership — Work Together in Pursuit of a More Just and Rational Global Governance System. »

The report argues that the world faces a global leadership deficit, reflected in the failure of peace, imbalance in development and discord among civilizations. It calls for a « new model of global leadership, » one that does not emanate from any single country, bloc or international organization, but rather represents a multilateral form of leadership — a synergy forged by the international community in active response to global challenges.

Noting the Global Governance Initiative put forward by China at the Shanghai Cooperation Organization Tianjin Summit in September, Lyu said, « Let us put the initiative into practice and jointly shape a just and equitable international order. »

He emphasized that media and think tanks from China and Africa should comprehensively expound on the Global South’s solutions for advancing the reform of the global governance system, and demonstrate the Global South’s strength reflected in the solidarity and cooperation of developing countries.

The remarks by Xinhua’s editor-in-chief resonated strongly with the participants.

« Tunisia and many African countries are key partners in the Global Governance Initiative and support China’s aspiration for a fairer and more equitable world order, » said Najeh Missaoui, chairman and CEO of the Tunis Africa News Agency.

Stressing the media’s role in advancing shared governance, Missaoui noted that the media is no longer just a tool for delivering news or sharing information; it has become a powerful force of cultural influence — shaping public opinion, contributing to decision-making, and nurturing dialogue and mutual understanding among peoples.

Similarly, Ismaila Ceesay, minister for information of The Gambia, said that it is believed that the future of global governance must be inclusive, multipolar and reflective of the rich diversity of human experience.

« China’s support in fostering training, technology transfer and infrastructure development across Africa’s media landscape is a valuable contribution toward this goal, » he added.

FORGING SHARED FUTURE

The highlights of China-Africa cooperation represent the Chinese vision of building a community with a shared future for humanity.

Since the establishment of FOCAC 25 years ago, China and Africa have cooperated on building or upgrading nearly 100,000 km of roads and more than 10,000 km of railways across Africa. Over the past three years, Chinese enterprises have created more than 1.1 million jobs on the African continent. The results of China-Africa cooperation are visible and palpable, and have truly benefited the people of both sides.

Iqbal Surve, chairman of South Africa’s Independent Media, hailed the Africa-China partnership as a beacon of what genuine cooperation can achieve, one grounded in mutual respect, shared goals, and a commitment to building a fairer, more inclusive world order.

« Together, we can build a world that is more balanced, more just, and more humane — a world where every voice counts and every nation thrives, » he added.

From Madagascar’s hybrid rice to agricultural poverty reduction demonstration villages in Sao Tome and Principe, from Ethiopia’s Eastern Industrial Zone to the China-Egypt TEDA Suez Economic and Trade Cooperation Zone, and from Mauritania’s China-Africa Green Technology Park to the geothermal power plant of Sosian Energy in Kenya, the Chinese solutions are boosting the continent’s modernization drive.

Erastus Mwencha, former deputy chairperson of the AU Commission, praised China as one of the countries that really speak and advocate for the Global South, noting that Africa’s Ubuntu philosophy, which means « I am because we are » holds that no one should be left behind, and reflects values that align closely with China’s vision and advocacy.

Noting the importance of an action-led global governance model to address the practical concerns of sustainable peace and development, Peter Kagwanja, president and chief executive of the Africa Policy Institute, said that Africa and China should partner in the proposed Global Governance Initiative as the surest pathway to a reformed and inclusive global governance system.

« It is key to realize the noble dream of a community with a shared future for humanity in a multipolar order, » he added.  

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