China's Private Enterprises' Technological Innovations Key To Achieving High Quality Development: CPPCC Member

BEIJING, (APP - UrduPoint / Pakistan Point News - 8th Mar, 2025) As global supply chains undergo significant restructuring, China's economic relationship with the world remains a pressing concern for many. At this year's Two Sessions, several National People's Congress (NPC) deputies and Chinese People's Political Consultative Conference (CPPCC) members shared thoughts on how private enterprises can leverage new quality productive forces to break through external restrictions and whether "the next China is still China."

Qu Yongyi, a member of the 14th CPPCC and its Economic Committee, highlighted that the accelerating wave of technological revolution and industrial transformation—coupled with U.S policies- is intensifying global industrial competition.

"In this environment, Chinese private enterprises must embrace technological innovation and new quality productive forces as the key to achieving high-quality development," Qu emphasized.

"Businesses must focus on cutting-edge technologies such as artificial intelligence, quantum computing, new energy, and biopharmaceuticals—investing heavily in R&D, strengthening innovation capabilities, and developing proprietary technologies. By continuously advancing their technological edge, they can secure a competitive position in the global market. Additionally, AI and big data should be utilized to modernize traditional industries, driving intelligent, green, and digital transformation in manufacturing."

On the other hand, Chinese enterprises should strategically position themselves in emerging industries of the future, proactively investing in quantum information, next-generation energy storage, and low-altitude economy—fields still in the exploratory phase—to seize global leadership in high-potential sectors, CEN reported.

He also shared that to empower private enterprises, policymakers must provide a robust support framework focused on intellectual property protection, financing access, innovation incentives, talent development, and market expansion.

Qu underscored several key measures: enhancing the innovation ecosystem by increasing tax deductions for R&D expenses and offering targeted incentives for breakthroughs in original technologies; expanding access to scientific infrastructure by opening national research facilities and university laboratories to private enterprises, reducing R&D costs; strengthening financial support by encouraging banks to develop loan products tailored to private-sector needs; and promoting public data sharing to facilitate digital transformation across industries.

Addressing the question of whether "the next China is still China," a 14th NPC deputy and director of the Chinese academy of Social Sciences' Institute for Chinese-Style Modernization, Zhang Yi, argued that China remains one of the world's safest and most attractive investment destinations. "Despite today's complex and unpredictable global landscape, China's internal development remains highly stable and certain, injecting confidence and momentum into global peace and economic growth," he stated.

He further emphasized China's pivotal role in driving global economic expansion, particularly for developing nations navigating the challenges of major-power competition. "China's growth fuels the economies of BRI countries, fostering shared prosperity. Only through global cooperation, crisis mitigation, and collective progress can we ensure the world's sustainable economic development."

When discussing U.S. tariff policies, he warned that protectionist measures undermine the mutual interests of both nations' populations. "I've noticed that many U.S. research institutions are now opposing Trump-era tariffs, especially those impacting essential consumer goods. The world cannot afford to decouple from China, and China cannot decouple from the world. Peaceful development is the only viable path forward. Trade should not be politicized, nor should it be weaponized."

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