Visitors look at vehicles at the booth of BYD during the 2025 Guangdong-Hong Kong-Macao Greater Bay Area International Auto Show in Shenzhen, south China's Guangdong Province, May 31, 2025. (Xinhua/Liang Xu)

China's economic development boasts broad potential, and the growth of private sector investment remains well-supported despite facing some challenges, a spokesperson of the National Bureau of Statistics (NBS) said on Monday. 

The remarks were made by NBS spokesperson Fu Linghui at a press conference held on Monday announcing the monthly data for August, as China's dynamic economy has maintained solid growth momentum in August, demonstrating strong resilience and vitality.

Fu said that the solid advancement of high-quality development provides space for continuous growth in private investment.

Fu explained that private enterprises are vigorously promoting green industries such as new-energy vehicles, photovoltaic products, and lithium batteries, while actively laying out plans for future industries like artificial intelligence and embodied robotics. This will further expand the development room for the private investment.

Also, private enterprises have displayed strong resilience and vitality, laying a foundation for growth in the important economic sector, he said.

Since the beginning of this year, though face of external challenges, private enterprises have tackled difficulties head-on, adapted flexibly, and actively expanded markets while stabilizing production, demonstrating strong resilience and innovative vitality, he said.

Meanwhile, the roust government policy support provides much assurance for growth in private investment, the spokesperson added.

The spokesperson noted that the formal implementation of the "Private Economy Promotion Law" sends a strong signal of support for the development of the private economy, and various regions and departments are actively improving mechanisms for government investment to stimulate private investment, continuously optimizing market access conditions for private investment, and strengthening funding and factor support. 

"These efforts are conducive to mobilizing the enthusiasm for private investment and promoting its stable growth," Fu said.

Despite profound and complex changes in the domestic and international environment, some private enterprises are facing operational difficulties, and private investment is under certain pressure. However, looking ahead, China's economic development boasts broad prospects, and private investment growth remains well-supported, the spokesperson noted. 

China's private enterprises are at the forefront of driving breakthrough innovations in multiple key sectors, bolstered by supportive government policies that foster entrepreneurship and stimulate market vitality in technological advancement.

According to the latest data from the National Development and Reform Commission (NDRC), the private sector has become a major engine of China's technological progress. Since the start of the 14th Five-Year Plan period (2021-25), private companies account for more than 92 percent of the country's high-tech enterprises, underscoring their critical role in shaping China's innovation landscape.

Private and foreign-invested enterprises saw steady expansion in China in the first half of the year, official data showed, indicating improving market expectations as well as the country's appeal as a global investment hub.

Some 4.35 million new private enterprises were established in the first six months, up 4.6 percent year on year, according to the State Administration for Market Regulation. Newly registered foreign-funded companies totaled about 33,000, marking a rise of 4.1 percent.

Overall, 13.28 million new business entities were established nationwide in the first six months.

Global Times