Wang Zhigang, head of China’s Ministry of Science and Technology, has called for private enterprises to make full use of local policies to gain access to sponsorship and subsidies while aiding in the country’s development of core technologies.

“The private economy is a crucial part of China’s economic development,” Xinhua News Agency cites Wang as saying at a government-led conference in Beijing on Sunday (in Chinese). He said the government aims to support the growth of private businesses by creating a fair market environment for innovation and competition.

The calls come as the government promotes the country’s Made in China 2025 initiative, which seeks to accelerate the move towards a high-value economy, including developing its chipmaking, autonomous driving, new energy vehicle, and space sectors.

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Jill Shen

Jill Shen is Shanghai-based technology reporter. She covers Chinese mobility, autonomous vehicles, and electric cars. Connect with her via e-mail: jill.shen@technode.com or Twitter: @yushan_shen