Transfar chairman: AI key to pvt firms seeking global edge

Deeper integration into operations to further drive enterprise transformation

Private enterprises in China must make more efforts to embrace artificial intelligence in order to gain a lead globally, a national lawmaker said on the sidelines of the two sessions that end on Tuesday.

Xu Guanju, a deputy to the 14th National People's Congress and chairman of leading chemicals manufacturer Transfar Group, said private companies are currently navigating challenges, striving to become world-class entities.

"However, the future global competition is no longer about scale or volume, but about high-quality development driven by advanced technologies," Xu said, adding that AI will be a key for a lead in the future.