Core Viewpoint - The private economy is essential for China's development, contributing significantly to tax revenue, GDP, technological innovation, employment, and the number of enterprises [1] Group 1: Current State of the Private Economy - The private economy contributes over 50% of tax revenue, over 60% of GDP, over 70% of technological innovations, over 80% of urban employment, and over 90% of the total number of enterprises in China [1] - The trust industry has unique advantages in supporting the development of private enterprises, with significant potential for financial support [1] Group 2: Achievements and Challenges in the Trust Industry - In 2023, the trust industry supported over 10,486 projects for small and micro enterprises, providing financing exceeding 870.5 billion yuan, with a year-on-year increase of 2.667 billion yuan, representing a 44.67% growth [1] - Despite achievements, challenges remain, including difficulties for small and medium-sized private enterprises in accessing trust funds, a need for enhanced innovation in trust services, and the necessity for improved risk management [2] Group 3: Recommendations for Trust Companies - Trust companies should innovate business models to better serve private enterprises, such as exploring new financing channels and collaborating with banks for equity and debt financing [3] - Strengthening risk management through the establishment of a robust risk prevention system using big data technology to monitor and analyze operational data of private enterprises [3] - Building a professional talent team to enhance service capabilities, focusing on training employees with a deep understanding of private enterprise needs and attracting external talent with innovative thinking [4]