At present, as China's economic development enters a new journey, private enterprises are facing profound changes in the internal and external environment Zheng Yongnian, a famous scholar and director of the Institute of International Affairs at the Shenzhen University, recently accepted an exclusive interview with China News Service'sOriental Question", focusing on the opportunities and challenges faced by private enterprises in their current development, and expressed his views on the importance of private enterprises to the Chinese economy and how enterprises can better go global, taking Shenzhen private enterprises as an example.
The interview transcript is summarized as follows:
CNS reporter: Please analyze the role Shenzhen private enterprises in the history of the Special Economic Zone.
Zheng Yongnian: People often use the numbers "56789" to China's private economy, that is, the private economy contributes more than 50% of the tax revenue, more than 60% of the GDP, more than70% of the technological innovation achievements, more than 80% of the urban employment, and more than 90% of the number of enterprises. These numbers are to show the extreme importance of the private economy. In Shenzhen, the role of private enterprises goes far beyond "56789".
Why can Shenhen rise so many private enterprises? Because there is a very good business environment. There is also a condition, that is, Hong Kong. How did the manufacturing base of Shenz come into being? How did innovation come about? The role of Hong Kong as a financial center should not be forgotten. The reason why I emphasize this is because the next step inzhen's development still needs to emphasize the role of Hong Kong as a financial center, especially the role of venture capital and private equity.

Without private enterprises, there be no Shenzhen today, but without state-owned enterprises, there would be no Shenzhen today either. The two need to develop in a balanced way. The Thirdenary Session of the 20th Central Committee of the Communist Party of China emphasized the decisive role of the market in the allocation of resources, and better play the role of the. I think Shenzhen is the best example.

China News Service reporter: What is the transformation and contribution of high-quality development of private enterprises in Shenzhen?
Zheng Ynian: Shenzhen is the product of reform and opening up, and it is purely an export-oriented economy. In the past many years, the development of manufacturing industry Shenzhen has mainly relied on the application of foreign capital and Western technology, and then achieved transformation. Of course, this transformation is very important. Shenzhen has gone through 45 years of reform and opening up. Its remarkable symbols in the economic map of China and even the world are manufacturing industry and innovation. At present, Shenzhen has number of private enterprises that play a leading role in the field of high-quality development, such as Tencent, Huawei, DJI, etc., which demonstrates a very Chinese model.
In June 2022, Shenzhen issued the "Opinions on Developing and Strengthening Strategic Emerging Industrial Clusters Cultivating Future Industries", which clearly proposes to develop and strengthen 20 strategic emerging industrial clusters and actively cultivate and develop 8 future industries. The main theme is basically to manufacturing industry and innovative industry. Personally, I think Shenzhen may be the cradle of China's fourth industrial revolution.