A national symposium on private enterprises, held in Beijing on Feb 17, saw a strong presence of enterprises based in East China's Zhejiang.

Representing traditional industry were Zhejiang's household names — Chint Group, a leader in smart energy solutions, and Transfar Group, a key player in chemicals and logistics.

Tech giant Alibaba, which has reshaped China's retail and cloud computing landscape, was also in attendance. The company's influence extends from e-commerce dominance to fintech innovations like Alipay, which has driven China's transition to a cashless economy.

Adding to Zhejiang's influence was AI disruptor DeepSeek, whose large language model, released over the Spring Festival holiday, has been hailed as a milestone in the global AI race.

The symposium underscored the significance of private firms and the private economy, signaling the country's commitment to fostering the healthy and high-quality development of the sector.

Zhejiang's dominance in China's private sector is long-standing. For 26 consecutive years, the province has topped the "China Private Enterprises 500 rankings", securing leading positions across all five major categories in 2024.

Zhejiang's private sector reached a record 3.5 million registered enterprises by the end of 2024, according to the 2024 Zhejiang Private Enterprise Development Briefing recently released by the Zhejiang Private Enterprise Development Association.

The number marked a 5.41 percent increase year-on-year, with 56 private enterprises per 1,000 residents.