Beijing Symposium Affirms Strong Support for Private Sector Growth

 

 

On February 17, 2025, a high-profile symposium on private enterprises convened in Beijing, signaling the government’s robust backing for the development of the private economy.

 

 

The event gathered top industry leaders from established firms like Huawei and BYD to emerging innovators such as DeepSeek, known for its groundbreaking advances in natural language processing, and Unitree Robotics (Yushu Keji), whose “Yang BOT” performance at the 2025 Spring Festival Gala demonstrated how technology can breathe new life into traditional culture. Jack Ma, founder of Alibaba, was also in attendance, further underscoring the significance of the symposium.

 

 

Amid a backdrop of global economic uncertainty and rapid technological change, the meeting emphasized three key principles:

 

 

1. Balanced growth: China will strengthen the public sector while equally fostering the private sector.
2. Fair competition: The government will ensure that businesses, regardless of ownership, have equal access to resources and operate on a level playing field.
3. Legal protection: Private enterprises’ legitimate rights will be safeguarded through comprehensive legal measures.

 

 

This high-level gathering reflects the government’s commitment to driving innovation, promoting fair business practices, and ensuring a supportive environment for private enterprise growth.

 

 

Liepin Report Highlights Growing Hiring Plans and Overseas Recruitment in Early 2025

 

 

According to a recent report from Chinese recruitment agency Liepin, 30.85% of surveyed companies plan to increase hiring in the first quarter of 2025, a notable improvement from 25.64% in the fourth quarter of 2024. Demand for overseas talent is also on the rise. In 2024, nearly 30% of surveyed firms sought overseas hires for global expansion. In early 2025, that figure has grown to 15.05%, more than doubling the 7.26% recorded in the previous quarter.

 

 

Luo Dongrong, a Guangzhou-based human resources specialist, noted that the first quarter often sets the tone for annual hiring trends. “Businesses typically expand during this period, and after Lunar New Year, job mobility rises as more people seek new opportunities,” she explained.

 

 

Jiao Yang, a senior presales engineer, observed that in Shenzhen, overseas job demand is increasing across sectors like electric vehicles, robotics, and cross-border e-commerce, particularly in sales and technology roles. However, he pointed out that while demand is growing, salaries remain static compared to last year, and in many cases, are still below pre-2020 levels.

 

 

Meanwhile, traditional manufacturing companies are facing budget constraints and continuing to downsize, reflecting a divergence in hiring strategies among different sectors.

 

 

China’s Largest Airship Model AS700 Takes Off in Electric Version, Heralding New Era for Low-Altitude Aviation

 

 

China’s largest domestically developed airship, the AS700, now has an electrically powered variant, according to Aviation Industry Corp of China (AVIC), the nation’s leading aircraft manufacturer. This marks a major milestone for the Special Aircraft Research Institute, AVIC’s subsidiary and China’s sole State-owned research body specializing in airship design and manufacturing. Over the decades, the institute has developed various manned and unmanned airships, including the FK-4, which made an appearance at the 1990 Beijing Asian Games. However, commercial operations for manned airships in China were long held back by strict low-altitude airspace controls and limited market demand.

 

 

That situation began to shift in recent years as the central government started unlocking the potential of low-altitude airspace. On February 21, the AS700D prototype, powered by a lithium battery system, completed its maiden flight at Jingmen Zhanghe Airport in Hubei province, hovering about 50 meters above ground before landing.

 

 

AVIC described the achievement as a verification of the AS700D’s technical maturity and a key step toward the development of more electric airship models. The AS700D features an advanced electric propulsion system, zero emissions, and low noise, making it ideal for environments with high environmental standards. It can reach a top speed of 80 km/h, retains the original airship’s maximum flight altitude of 3.1km, and can carry one pilot and nine passengers.

 

 

 

 

The institute behind the AS700 family has already received confirmed orders for 23 units, along with 164 provisional orders. Small-scale production of the baseline AS700 model is underway, with the first unit slated for delivery around October 2025 to a private company in the Guangxi Zhuang Autonomous Region. This airship will be used for aerial sightseeing, marking a new chapter in China’s low-altitude aviation industry.

 

 

The successful introduction of the electric AS700D not only highlights China’s advancements in clean aviation technologies but also reflects the growing demand and policy support for commercial airship operations.

 

 

Baidu Reports 21% Profit Growth in 2024, Driven by Cloud Services and Autonomous Ride-Hailing

 

 

On February 18, Baidu released its financial results for the fourth quarter and full year of 2024, highlighting steady growth across key business segments. The company achieved total revenue of CNY 133.1 billion (approximately $19.3 billion USD) in 2024, with net income attributable to Baidu Core reaching CNY 23.4 billion (approximately $3.4 billion USD), marking a year-over-year increase of 21%.

 

 

Intelligent Cloud Revenue grew by 26% year-on-year in Q4, showcasing Baidu’s strong positioning in China’s cloud services market. The company’s autonomous ride-hailing service, an area of strategic focus, provided over 900,000 rides nationwide by January 2025, with 110,000 rides in Q4 alone, representing a 36% year-on-year increase.

 

 

Baidu’s consumer-facing platform also saw notable gains. Monthly active users of the Baidu App reached 679 million in December 2024, while online marketing revenue from Baidu Core hit 17.9 billion yuan (approximately $2.6 billion USD) in Q4.

 

 

Meituan and JD.com to Extend Social Security Benefits for Couriers, Marking a Milestone for Labor Rights in China’s Gig Economy

 

 

Meituan, China’s food delivery giant, has announced plans to roll out social security benefits for its full-time and stable part-time couriers nationwide, starting in Q2 2025. The announcement comes shortly after JD.com declared it would provide comprehensive social security benefits, including the Five Social Insurance Programs and Housing Provident Fund (五险一金）, for its full-time food delivery riders beginning in March 2025. JD.com also pledged accident and health insurance coverage for part-time riders, making it the first platform in China to introduce such measures for couriers.

 

 

 

 

Social insurance in China typically covers pensions, medical insurance, unemployment insurance, occupational injury insurance, and maternity insurance. JD’s initiative builds on its previous practice of offering social insurance for its express delivery personnel, expanding this coverage to the food delivery sector.

 

 

China is home to over 12 million registered delivery workers across various online platforms. In recent years, there has been a growing focus on protecting delivery workers’ rights and welfare, reflecting a shift in public and policy attention toward labor issues in the gig economy.

 

 

The move by leading platforms like JD.com and Meituan to contribute to social security for couriers represents a significant improvement in labor protections. According to Zhang Chenggang, an associate professor at the School of Labor Economics, Capital University of Economics and Business, these initiatives address long-standing gaps in social security coverage, providing a new model for safeguarding delivery workers’ labor rights.

 

 

However, surveys indicate that a significant number of food delivery riders do not prioritize social security contributions as highly as other factors. “Social security contribution needs” rank below both “income” and “job flexibility” in terms of importance.