Private Economy in China Shows Growing Resilience and Vitality as It Innovates and Takes Initiative

Deep News
Yesterday

Targeting niche markets with precision, private enterprises are accelerating the cultivation of differentiated competitive advantages and striving to open new horizons through value creation.

Advancing toward novelty and winning through quality, private enterprises dare to break out of their comfort zones, lay out future new tracks in advance, and demonstrate strong innovative vitality.

Private enterprises are an important force in cultivating new quality productive forces. During recent research, the reporter deeply felt that in the face of a complex situation marked by heightened external pressure and relatively numerous internal difficulties, private enterprises are climbing toward new heights and rising toward excellence, seizing new opportunities in market expansion and strengthening their competitiveness through innovative transformation, injecting strong momentum into high-quality economic development.

Responding to personalized market demand for smart glasses, Beijing Xingzhe Wujiang Technology Co., Ltd. launched a series of augmented reality (AR) glasses products comprehensively suited to diverse usage scenarios such as audio-visual entertainment and mobile office work. On September 25, the first day of the Mid-Autumn Festival holiday, the Fifth Digital Trade Fair welcomed a surge of visitors. In the photo, spectators line up to experience smart glasses. Photo by Xi Jinyan.

"In recent years, our AR glasses products have maintained triple-digit growth every year," said Jiang Gonglue, founder and CEO of the company. He stated that with technological innovation as the driving force, the company will continue to expand smart glasses applications in industrial enterprise-level scenarios such as scientific research and healthcare, and deeply tap new growth potential in overseas markets including Europe and the United States.

Matching diverse demand with high-quality supply and promoting the release of consumption potential, intelligent consumption is gradually becoming a new consumption trend. In the first eight months of this year, retail sales of wearable smart devices by units above designated size in China maintained rapid growth, with sales of smart glasses on key platforms growing 1.2 times year-on-year. US Consumer News and Business Channel (CNBC) recently cited forecast data from market research firm Omdia stating that global smart glasses market sales will grow by more than 70% this year, with total volume expected to reach 15 million units, of which the Chinese market is expected to double to 2.1 million units.

China's vast market contains enormous development opportunities. Targeting niche markets with precision, private enterprises are accelerating the cultivation of differentiated competitive advantages and striving to open new horizons through value creation.

Put on the gloves, open the palm, make a fist, and data such as the user's palm flexibility and range of motion are displayed on the screen, after which a rehabilitation training plan is automatically generated... Walking into the Smart Health Care Center of the West China Medical Robot Research Institute in Wenjiang District, Chengdu City, Sichuan Province, the reporter saw several elderly people using hand rehabilitation training robots for rehabilitation training.

"At present, this hand rehabilitation training robot has been sold to multiple cities including Beijing, Shanghai, and Chengdu. Building on sales of more than 100 units last year, sales are expected to double this year," said Li Kang, chairman of Huaxi Jingchuang Medical Technology (Chengdu) Co., Ltd., the operating entity of the research institute.

Intelligent wheelchair robots, inspection service robots, and AI-powered emotional companion robots have entered the Xialing Interactive Smart Elderly Care Home in Xihu District, Hangzhou City, becoming "new friends" that accompany and assist the elderly. Photo by Wu Junyi.

The silver-haired demographic not only brings demand for elderly care but is also reshaping the consumption structure. Accelerating the transformation of innovative achievements in elderly care robots into practical applications, developing and processing low-sugar, high-protein foods suitable for the elderly, and researching and applying clothing and accessories with specific functions such as safety protection and heat storage and warmth retention... In response to the multi-level and diverse consumption needs of the elderly, private enterprises are continuously optimizing elderly care services, enriching the supply of age-friendly products, and expanding new business growth points.

Data shows that by the end of 2025, the number of people aged 60 and above nationwide will have reached 320 million. According to estimates, by 2035, China's silver economy scale is expected to exceed 30 trillion yuan, and the upgrading of elderly care services has entered a valuable window of opportunity.

"From meeting basic elderly care needs to pursuing a more quality-oriented and vibrant later life, the elderly have increasingly growing demands for daily care, emotional companionship, and social support, 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 novelty and winning through quality, private enterprises dare to break out of their comfort zones, lay out future new tracks in advance, and demonstrate strong innovative vitality. Recently, Wenzhun Intelligent (Xiong'an) Technology Co., Ltd., together with the Department of Computer Science and Technology of Tsinghua University, released a new-generation data large model, LimiX-2. Different from traditional large language models, the data model to which LimiX belongs focuses on analyzing patterns, summarizing, and making predictive decisions from structured data. It is mainly applied in scenarios such as enterprise production records and financial statements to assist enterprise 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 application and implementation of a batch of industry large models and industrial intelligent agents, which set the focus for enterprise development," said Cui Peng, chief scientist of Wenzhun Intelligent. He noted that the company's technical team is currently continuing to refine its self-created technical route and exploring a model of driving model iteration through industrial scenarios, helping artificial intelligence move more rapidly from prediction to precise decision-making.

On the innovation competition field, private enterprises are actively laying out their positions. iFLYTEK announced a strategic investment in Liangyi Wanxiang (Beijing) Technology Co., Ltd. and jointly established Liangzhi Kaiwu (Beijing) Technology Co., Ltd. with it; BrainCo released its latest-generation dexterous hand, Revo3, which can keenly perceive deformations as small as 130 micrometers... Many private enterprises are advancing into frontier fields such as quantum information and brain-computer interfaces and accelerating breakthroughs, becoming leaders in emerging and future industries.

The stronger the innovation and creativity vitality of private enterprises, the more solid the foundation of economic development. Cultivating the soil for development and optimizing the institutional environment will give private enterprises a more solid foundation for moving forward. Various localities are devising new policies and taking practical measures to pave the way and build bridges for the innovative development of private enterprises: Zhangzhou City in Fujian Province precisely dispatches expert professors to serve as "technology vice presidents" for key private enterprises, promoting the rapid implementation of industry-university-research cooperation projects; Minhang District in Shanghai has created a dedicated registration venue for OPC (one-person company), opening up the key links of registration for single-person lightweight entrepreneurial entities...

"Where the concerns of the private economy lie, real and practical measures must follow. Focusing on what private enterprises need for development, it is necessary to further deepen, refine, and substantiate measures, improve policy precision, and ensure implementation at every level, continuously stimulating the vitality of the private economy and consolidating the foundation for high-quality economic development," said Zhang Xiaolan.

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