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Previously: Owning an Amazon delivery business: The risks, rewards and economic realities of the tech giant’s new program for entrepreneurs

Private businesses played an important role in foreign trade with exports and imports value up 20.6 percent to 5.02 trillion yuan in the first half, or 38.2 percent of the nation's total.

President of the Republic of Azerbaijan Ilham Aliyev receives a delegation led by president of the Chinese People's Association for Friendship with Foreign Countries Li Xiaolin, Aug 30, 2018. [Photo/AZERTAC]

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Progress has already been made in shipbuilding. Chinese shipyards are outperforming their South Korean rivals in the construction of high-end mega-container ships, cruise liners and other special-purpose vessels, having already sharpened their manufacturing edge and grabbed a larger share of the global market, said Jin Peng, secretary-general of the China Association of the National Shipbuilding Industry in Beijing.

Priced up to 3,999 yuan (7), MIX 2S is equipped with its homegrown voice-activated virtual assistant, which can help consumers control Xiaomi-branded smart home appliances via voice.

Previously, industry experts forecast that the first 5G models might retail for as high as about 10,000 yuan per piece due to high production costs.

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Private enterprises play a vital role in China's economic development, contributing 50 percent of fiscal revenue, 60 percent of GDP, 70 percent of technical innovation, 80 percent of urban employment, and 90 percent of total enterprises and newly-added employment, said Liu Shijin, a member of the National Committee of the Chinese People's Political Consultative Conference, at a press conference during this year's two sessions legislative meeting.

Private firms and foreign-funded firms will be supported to conduct such swaps in a market-oriented manner, said a document released by the National Development and Reform Commission (NDRC).

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Production index measuring the services sector came in at 7 percent in October in the first 10 months, unchanged from the first nine months, the NBS said at a news briefing.

Private companies' confidence further grew in the first quarter amid signs of improving economic prospects and a more favorable policy environment for the private sector, Yang said.