Editorial: Unleash the Private Sector to Spur Tech Innovation

The ability of private enterprises to play a significant role in technological innovation lies in intense market competition and their strong profit-driven guidance. Without innovation, these businesses cannot survive.

The role that businesses, especially private companies, plays in technological innovation is vital to the construction of an innovative nation and high-quality economic development. Recently, the first meeting of the Central Comprehensive Reform Commission reviewed and approved documents such as Opinions on Strengthening the Principal Status of Enterprise Technology Innovation and Opinions on Promoting the Development and Growth of the Private Economy. The meeting specifically mentioned “actively encouraging and effectively guiding private enterprises to participate in major national innovations,” indicating that policymakers hold high hopes that private enterprises can spur technological innovation, regarding them as “our own family.”