China's Private Economy Shows Continued Resilience and Vitality Through Innovation and Proactive Positioning

Deep News
31 mins ago

Private enterprises are a vital force in cultivating new quality productive forces. During recent research visits, reporters gained a deep sense of how, in the face of mounting external pressures and considerable internal challenges, private companies are scaling new heights and pursuing excellence, seizing fresh opportunities in market expansion and strengthening competitiveness through innovation-driven transformation, injecting strong momentum into high-quality economic development.

Responding to personalized market demand for smart glasses, Beijing Xingzhe Wujiang Technology Co., Ltd. has launched a series of augmented reality (AR) glasses products, fully adaptable to diverse scenarios such as audio-visual entertainment and mobile office work. "In recent years, our AR glasses products have maintained triple-digit growth annually," said Jiang Gonglue, founder and CEO of the company, adding that the firm will continue to use technological innovation as a driving force to expand smart glasses applications in industrial enterprise-level scenarios such as scientific research and healthcare, while tapping into new growth potential in overseas markets including Europe and the United States.

Matching diverse demand with quality supply and unlocking consumption potential, smart consumption is gradually becoming a new consumer trend. In the first eight months of this year, retail sales of wearable smart devices by units above designated size maintained rapid growth, with smart glasses sales on key platforms growing 1.2 times year-on-year. U.S. media outlet CNBC recently cited forecast data from market research firm Omdia, stating that global smart glasses market sales are expected to grow by more than 70% this year, with total volume potentially reaching 15 million units, of which the Chinese market is projected to double to 2.1 million units.

China's vast market holds enormous development opportunities. Targeting niche markets with precise efforts, private enterprises are accelerating the cultivation of differentiated competitive advantages and carving out new ground through value creation. Putting on a glove, opening the palm and making a fist, data on the user's hand flexibility and range of motion appears on a screen, which then automatically generates a rehabilitation training plan. Walking into the Smart Elderly Care Center at the West China Medical Robot Research Institute in Wenjiang District, Chengdu, Sichuan Province, reporters observed several elderly individuals using hand rehabilitation training robots for rehabilitation exercises. "Currently, this hand rehabilitation training robot has been sold to Beijing, Shanghai, Chengdu and many other cities. Building on last year's sales of over 100 units, we expect to double sales this year," said Li Kang, chairman of Huaxi Jingchuang Medical Technology (Chengdu) Co., Ltd., the institute's operating entity.

The silver-haired demographic not only brings elderly care needs but is also reshaping consumption patterns. Accelerating the commercialization of elderly care robot innovations, developing and processing low-sugar, high-protein foods suitable for seniors, and researching and applying clothing with specific functions such as safety protection and heat retention, private enterprises are continuously optimizing elderly care services, enriching age-friendly product offerings and expanding new business growth points in response to the multi-layered and diverse consumption needs of older adults. Data shows that by the end of 2025, China's population aged 60 and above had reached 320 million. According to estimates, by 2035, China's silver economy scale is expected to exceed 30 trillion yuan, ushering in a valuable opportunity period for upgrading elderly care services. "From meeting basic elderly care needs to pursuing a more quality-oriented and vibrant later life, seniors' demand for daily care, emotional companionship and social support is steadily increasing, which will open up new development space for private enterprises to tap into the silver economy market," said Zhang Xiaolan, a researcher at the Informationization and Industry Development Department of the State Information Center under the National Development and Reform Commission.

Advancing toward innovation and winning through quality. Private enterprises dare to break out of their comfort zones, laying early groundwork in future new tracks and demonstrating strong innovative vitality. Recently, Wenzhun Intelligent (Xiongan) Technology Co., Ltd., in collaboration with Tsinghua University's Department of Computer Science, released a new-generation data large model LimiX-2. Unlike traditional large language models, the data model to which LimiX belongs focuses on analyzing patterns from structured data, summarizing and making predictive decisions, primarily applied to scenarios such as enterprise production records and financial transactions to assist corporate production decisions. "In March this year, the Ministry of Industry and Information Technology announced the launch of the Industrial Data Foundation Action, proposing to empower the implementation of a batch of industry large models and industrial intelligent agents, which has set priorities for enterprise development," said Cui Peng, chief scientist of Wenzhun Intelligent. He noted that the company's technical team is currently refining its self-developed technology roadmap and exploring a model of industry-scenario-driven model iteration to help artificial intelligence move more rapidly from prediction to precise decision-making.

On the innovation arena, private enterprises are actively positioning themselves. iFlytek announced a strategic investment in Liangyi Wanxiang (Beijing) Technology Co., Ltd. and jointly established Liangzhi Kaiwu (Beijing) Technology Co., Ltd.; BrainCo released its latest-generation dexterous hand Revo3, capable of sensing deformations as small as 130 microns. Many private enterprises are advancing into frontier fields such as quantum information and brain-computer interfaces, accelerating breakthroughs and becoming trailblazers in emerging and future industries.

The stronger the innovation and creative vitality of private enterprises, the more solid the foundation for economic development. Enriching the soil for development and optimizing the institutional environment give private enterprises a more solid footing to move forward. Various localities are devising new strategies and practical measures to pave the way for private enterprise innovation and development: Zhangzhou City in Fujian Province precisely assigns expert professors to serve as "technology vice presidents" at key private enterprises, facilitating rapid implementation of industry-university-research cooperation projects; Minhang District in Shanghai has created a dedicated registration platform for OPC (one-person company) to open up key registration processes for single-person lightweight entrepreneurial entities. "Wherever the concerns of the private economy lie, concrete measures must follow. Focusing on what private enterprises need for development, we should further deepen, refine and substantiate measures, improve policy precision, ensure implementation at every level, continuously stimulate the vitality of the private economy and solidify the foundation for high-quality economic development," said Zhang Xiaolan.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10