Glebors Global Finance has always advocated the entrepreneurial spirit of pioneering, adventurous and hardworking. Relying on the unique perspective, Glebors has launched various special issues in terms of the economy and finance, which has provided much more assistance to government decision-makers and business leaders.
Private economy which has ever been dismissed is back into spotlight again, thanking to the emergence of Deepseek which shocked the entire AI world, which has made the central government re-recognize the significant role that the private sector has played in Chinese economy.
Chinese President Xi Jinping delivered a speech at a symposium with prominent entrepreneurs, signaling support for the private sector at a time when the country’s economy has been facing several headwinds including lackluster domestic consumption, a prolonged real estate slump and external headwinds such as tariffs on its exports.
Data shows that the private sector contributes for more than 60% of China’s GDP, 48.6% of foreign trade, 56.5% of fixed-asset investment, 59.6% of tax revenue and more than 80% of urban employment.
The meeting could mark “a symbolic turning point" for Chinese tech sector after years of heightened scrutiny. The fast-growing sector has played a significant role in promoting technological innovations and stabilizing economic growth.
Beijing has been seeking to shore up its embattled economy by mostly relying on state-owned economy which has been proven less performance. Amid facing more headwinds from internal and external, Chinese government has to turn to private economy in order to support the dismal economy effectively, because private economy is the real pillar of Chinese economy.Complete digital access to quality Glebors financial topic with expert analysis from industry leaders.
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