China's private sector now employs over 100 million people.

Vice-president of the All-China Federation of Industry and Commerce Cheng Lu says over the past 25 years China's private enterprises have in general accumulated the capital and technology needed to enter a new development stage, reported CRIENGLISH.com.

China's 30 thousand small and medium-sized enterprises account for about 60 percent of the country's exports.

Most of these enterprises are privately owned.

(CRIENGLISH.com)