“十五五”，重拾民营经济优势

Core Viewpoint - The article emphasizes the need to strengthen the advantages of private enterprises, particularly in foreign trade, during the "15th Five-Year Plan" period, while also advocating for a supportive policy environment to enhance efficiency and effectiveness in private enterprises [1][21]. Summary by Sections Private Economy's Role - The private economy is seen as a driving force for China's modernization, showcasing advantages in efficiency compared to state-owned enterprises. However, there has been a slowdown in key economic indicators for private enterprises, such as employment absorption and income growth [2][3]. Employment and Wage Trends - The employment growth rate in private enterprises has decreased significantly, from an average annual growth of 8.5% (2015-2019) to 1.15% (2020-2024), with private employment rising from 29.418 million to 30.796 million [5]. - The wage gap between private and state-owned employees has widened, with private sector average wages increasing from 57,727 yuan in 2020 to 69,476 yuan in 2024, while state-owned employees' wages rose from 97,379 yuan to 124,110 yuan [6]. Investment Trends - Private investment growth has lagged behind national and state-owned investment, with private investment's share dropping from 53.6% in 2020 to below 49% in 2024. The average annual growth rate for private investment was only 1.6% compared to 6.2% for state-owned investment [7][8]. Industrial Performance - The growth rate and efficiency of private industrial enterprises have declined, with state-owned industrial growth rates catching up and surpassing those of private enterprises. For instance, from 2020 to 2024, the average annual growth rate for state-owned industrial value added was 5.1%, while private industrial growth was 5.3% [9][10]. Foreign Trade Achievements - Private enterprises have significantly contributed to foreign trade, with their annual growth rate in import and export totals reaching 9.9% from 2015 to 2024, compared to 4.1% for state-owned enterprises. By 2024, private enterprises accounted for 55.7% of total trade, up from 35% in 2015 [14]. Public Company Dynamics - The number of private companies listed on stock exchanges has increased, with private enterprises accounting for 64% of all listed companies by mid-2025. However, their net profit growth has stagnated, with a slight increase from 0.71 trillion yuan in 2020 to 0.75 trillion yuan in 2024 [15][16]. Wealth Distribution Trends - The number of billionaires and total wealth in China has been declining, with the 2024 Hurun Report showing a 12% decrease in the number of individuals with wealth exceeding 5 billion yuan compared to 2023 [19][20]. Recommendations for the "15th Five-Year Plan" - The article suggests enhancing the scale advantages of private enterprises, particularly in foreign trade, and creating a more supportive policy environment to boost efficiency and effectiveness in private enterprises [21].