China Taps Private Sector on 15th Five-Year Plan

China's National Development and Reform Commission (NDRC) recently hosted a symposium inviting private enterprises to provide insights on expanding effective investment during the 15th Five-Year Plan period (2026–2030). The meeting reflects the government's ongoing recognition of the private sector's pivotal role in driving investment, innovation, and employment.

Participants highlighted the improvements in China's business environment over recent years, noting increased support for private enterprises in investment and business development. They encouraged policymakers to emphasize the private sector's leadership in innovation, enhance science and technology infrastructure, refine investment and financing mechanisms, and strengthen intellectual property protections.

The private sector representatives also stressed the importance of opportunities in artificial intelligence, new technologies, and emerging business models, advocating for expanded investment channels to unlock the sector's full potential. Many enterprises expressed interest in participating in major national projects, focusing on areas that drive high-quality economic and social development.

Zheng Shanjie, head of the NDRC, underscored that private investment is a key indicator of economic vitality, critical for stabilizing employment and supporting growth. He noted that China's diverse industrial base, strong resilience, and long-term favorable economic conditions provide a solid foundation for continued development. The suggestions gathered from private enterprises will inform the formulation of the 15th Five-Year Plan.

Experts emphasize that the private sector will play an increasingly central role in China's economic strategy. Li Changan, professor at the Academy of China Open Economy Studies, highlighted that private enterprises, which account for over 96 percent of all registered businesses, contribute more than 60 percent of China's GDP and are essential to achieving the objectives of the 15th Five-Year Plan.

The symposium and recent legislation promoting the private economy signal a strategic focus on supporting innovation-driven growth, particularly in areas such as artificial intelligence and the digital economy, where private enterprises are positioned to make substantial contributions.