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The economic data for the first quarter of 2025 was released on April 16th, and a key indicator is particularly noteworthy - among industrial enterprises above designated size, the added value of private enterprises increased by 7.3% year-on-year, not only faster than the average level of all industries, but also significantly rebounded compared to the whole year of 2024. Behind this data is the strong momentum generated by the resonance between policy dividends and market vitality in the private economy, and it is also a crucial step for the high-quality development of the Chinese economy.
The resilience of the private economy is first reflected in the synchronous recovery of its investment and production. In the first quarter, private investment shifted from negative growth in the previous year to positive growth of 0.4%, with private investment in manufacturing growing at a staggering 9.7% and private investment in infrastructure growing at 9.3%, both significantly higher than the industry average. This transformation is not only due to the precise implementation of the central government's "two new" and "two double" policies, such as the policy of exchanging old for new consumer goods, which has driven retail sales of home appliances, communication equipment and other products to increase by more than 19%, but also stems from the continuous optimization of the business environment, providing a fair competition market environment for private enterprises. Taking Hubei as an example, by simplifying the subsidy process through the "exemption from application and enjoyment" policy, innovating the implementation of the "Ten Thousand Enterprises Trillion Technological Transformation Action", and further stimulating the enthusiasm of private enterprises.
The vitality of the private economy is accelerating towards the field of innovation. Technological breakthroughs in cutting-edge fields such as generative artificial intelligence, quantum information, and civil aviation are frequently led by private enterprises. Data shows that the import and export volume of private enterprises in the first quarter increased by 5.8% year-on-year, accounting for 56.8% of the total import and export volume. The market conversion efficiency of their innovative achievements can be seen. This two-way empowerment of "innovation market" not only reshapes the value distribution pattern of the industrial chain, but also cultivates new quality productivity for the Chinese economy. Private enterprises are transforming from "followers" to "co runners" or even "leaders", becoming the core driving force for technological iteration.
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Frank Fung
+852-92385718
inquiry@chiefprimeltd.com
+852-92385718
inquiry@chiefprimeltd.com