The amount of significance that the central authorities have attached to the development of private enterprises represents fundamental guarantees and many opportunities, said Lu Weiding, a deputy to the National People's Congress (NPC) and head of Wanxiang Group, in an interview with China.org.cn on March 6 in Beijing during the annual NPC session. The NPC is China's top legislative body. 

Lu Weiding, a deputy to the National People's Congress and head of Wanxiang Group. [photo provided to China.org.cn]

Lu said the annual session has further affirmed his confidence that Wanxiang Group should always prioritize innovation, paying attention to nurture and attract talent who specialize in new energy, new material and new manufacturing operations in order to discover breakthroughs in vital technologies. 

Based in Xiaoshan, Zhejiang province, Wanxiang Group was founded in 1969 and started out as a manufacturing company producing universal joints, wheel hub units and drive shafts. Now it follows the trend of electrification and intelligence in the automotive industry and invests heavily in the development of clean energy and mobile intelligence control.

"Wanxiang Group should promote digital intelligence projects and build future factories" to boost new quality productive forces in its sector, said Lu.