China's private enterprises are accelerating their foray into emerging and future industries, aiming to capture new opportunities and lead industry development.

Chinese automaker BYD recently announced a 100-billion-yuan (13.79 billion U.S. dollars) investment in the intelligent sector to boost autonomous driving.
In addition, Alibaba Group said on Monday that it plans to invest more than 380 billion yuan (about 53 billion U.S. dollars) in building cloud computing and AI hardware infrastructure in the next three years.
"Private enterprises, as a crucial force in China's technological innovation, help promote the deep integration of technological and industrial innovations, foster new industries, new models and new growth drivers by venturing into new fields. By doing so, they can contribute to the development of new quality productive forces," said Sheng Zhaoxun, director of the strategy policy office at the Academy of Macroeconomic Research of the National Development and Reform Commission.
Private enterprises have been key drivers of China's high-quality economic development, leading growth in intelligent manufacturing, green technology, digital economy, and biomedicine.
In 2024, the top 500 private enterprises in China held 667,000 valid patents, up 9.4 percent from the previous year and achieving nearly a double-digit growth.
This year, the Chinese government will remove market barriers for private enterprises and support their participation in major projects.
By 2026, it plans to extended support for more than 5,000 "little giant" enterprises -- the small and medium-sized enterprises (SMEs) in China that specialize in niche sectors, boast cutting-edge technologies, and show great potential.