Private firms turn key to innovation, jobs

China's private enterprises cemented their position as the country's main engine of innovation, jobs and green transition in 2024, accounting for more than 90 percent of high-tech firms and emerging as the largest contributor to high-tech trade for the first time.

The findings were part of the latest report by the All-China Federation of Industry and Commerce at its executive committee meeting that ended on Tuesday in Changsha, Hunan province.