China sees private companies rapidly expanding

Chinese private companies are advancing rapidly amid challenges, with technology not only flourishing in high-end manufacturing and artificial intelligence, but also pioneering innovative growth in traditional sectors, such as agriculture, said Liu Yonghao, founder of New Hope Group.

NHG is an agricultural company that participated in a symposium on Monday by China’s top leadership on boosting private economy in Beijing, emphasizing China’s commitment to boosting the private sector through supportive policies and measures.

Liu said the meeting charted the vast prospects and great potential for the development of the private economy and greatly boosted the confidence of entrepreneurs. Liu said companies need to capitalize on favorable policies and make efforts to propel further growth amid intricate challenges.

China attached great importance to agricultural development in recent years, with further efforts emphasized on the development of agricultural science, technology and agricultural mechanization and intelligence.

This year, a batch of advanced facilities such as electric-driven high-speed precise seeding machines, tractors used on hillsides and mountains, and corn planters are rapidly being deployed in spring farming, while the rapid development of low-altitude economy is also boosting the quality and efficiency of traditional agriculture, experts said.