The private economy is an important foundation for high-quality development and a crucial force in achieving the great cause of building a strong country and national rejuvenation. The Proposal of the Central Committee of the Communist Party of China on Formulating the 15th Five Year Plan for National Economic and Social Development proposes to implement the Law on the Promotion of the Private Economy, guarantee equal use of production factors, fair participation in market competition, effective protection of legitimate rights and interests, and develop and strengthen the private economy from a legal and institutional perspective. This provides important guidance for us to promote the sustained development and growth of the private economy on our new journey. Since the new era, China has always adhered to the "two unwavering" principles and attached great importance to the development of the private economy. The 20th National Congress of the Communist Party of China proposed to optimize the development environment for private enterprises and protect their property rights and the rights of entrepreneurs in accordance with the law. The Third Plenary Session of the 20th Central Committee of the Communist Party of China made a series of arrangements around the principle of "adhering to the policy of creating a favorable environment and providing more opportunities for the development of the non-public economy". During the 14th Five Year Plan period, policies such as the "Opinions of the Central Committee of the Communist Party of China and the State Council on Promoting the Development and Growth of the Private Economy" were introduced, the Private Economy Promotion Law was promulgated and implemented, and a policy and regulatory system supporting the development of the private economy was basically formed, providing strong support for the release of more vitality in China's private economy. In recent years, China's private economy has achieved remarkable results in development. The scale of market entities continues to grow, with 58 million private enterprises nationwide as of the end of May this year, an increase of over 40% compared to the end of the 13th Five Year Plan. The competitive strength of enterprises has significantly increased. The entry threshold for the top 500 private enterprises in 2024 has been raised to 27.023 billion yuan, an increase of 35% compared to 2020. During the 14th Five Year Plan period, the number of private specialized, refined, and new "little giant" enterprises increased by more than three times, and the number of single champion enterprises in the manufacturing industry exceeded 200. At the same time, the ability of technological innovation is steadily improving, especially in strategic emerging industries such as new energy vehicles, artificial intelligence, quantum communication, and biomedicine. Private enterprises have achieved a number of original technological breakthroughs and are gradually becoming technology leaders. In addition, the effect of boosting consumption continues to be significant. The proportion of sales revenue from the private economy in China has increased from 68.9% in 2020 to 71.7% in the first half of 2025, playing a key role in smoothing the domestic circulation. Especially new models such as e-commerce going to the countryside and live streaming sales have effectively activated the consumption markets in counties and rural areas, driving millions of farmers to increase their income and become prosperous. The pace of private enterprises' "going global" continues to accelerate, and the proportion of import and export volume to total foreign trade value continues to increase. For six consecutive years, they have maintained their position as the largest foreign trade operator in China, injecting surging momentum into the high-quality development of China's foreign trade. Currently, China's private economy has formed a considerable scale and holds a significant weight, demonstrating tremendous development vitality and resilience. The development prospects of the private economy in the new era and new journey are broad and promising. The majority of private enterprises and entrepreneurs should accurately grasp the development trend, seize strategic opportunities, give full play to their own advantages, integrate into the national development strategy with a more proactive attitude, promote the high-quality development of private economy, and contribute more to the comprehensive construction of a socialist modern country and the promotion of Chinese path to modernization. Disruptive changes are brewing in fields such as artificial intelligence, quantum information, and deep sea aerospace. Future industries such as brain computer interfaces and embodied intelligence are moving from laboratories to vast markets. To maintain a strategic perspective, explore diverse technological routes and typical application scenarios, and cultivate future competitive advantages. Private enterprises with the ability and foundation may lead the formation of innovation consortia, collaborate with universities and research institutions to tackle key issues, and play a greater role in promoting high-level technological self-reliance and self-improvement. During the 15th Five Year Plan period, the proportion of service consumption such as health consumption, cultural consumption, and education consumption in China will continue to increase, which has opened up a vast market for private enterprises. Deeply understanding the intergenerational changes in consumer demand and developing products and services that cater to new consumer groups will help enterprises create new growth points for development. We should be good at creating new consumption scenarios, activating consumption potential with new formats and models, and better meeting the diverse consumption needs of consumers. The deep integration of digital economy and real economy is the trend. Private enterprises should take digital and intelligent transformation as the "top priority project", attach importance to the value mining of data elements, use data-driven decision-making, optimize processes with algorithms, and improve efficiency with intelligence. Equally important is to actively embrace green and low-carbon transformation and seize the opportunity for sustainable development. During the 15th Five Year Plan period, China will implement a dual control system for total carbon emissions and intensity. Private enterprises should regard green and low-carbon as both a hard constraint and a new track. On the one hand, we will solidly promote clean production processes and improve the carbon management system of enterprises; On the other hand, seizing the high ground of green development, developing green products, providing green services, and building a green supply chain. The Fourth Plenary Session of the 20th Central Committee of the Communist Party of China has sent a strong signal that China shares opportunities and develops together with countries around the world. The open China has provided a broad stage for the development of private enterprises. Seizing the significant opportunity of China's steady expansion of institutional opening-up, participating in international competition and cooperation at a higher level, and improving the quality and efficiency of its own development, private enterprises will surely be able to demonstrate their capabilities. Author: Luo Yuhui (Associate Professor of Marxist Theory Teaching and Research Department, Central Academy of Socialism)