Promising outlook for private enterprises

In 1983, Peng Fan, a 20-year-old graduate from Sichuan province, found himself at the doorstep of a gritty machine tool foundry in Yinchuan, nestled among the windswept landscapes of the Ningxia Hui autonomous region.

As Peng looked at the yellow sand and worn-out factory, little did he realize that this very spot would grow into a global powerhouse in 3D printing.

At the time, Yinchuan was considered less developed, but the stark reality he was seeing far exceeded his imagination: workers with faces smeared black, dust filling the workshops, outdated production equipment and products limited to making manhole covers.

Yet, it somehow fueled Peng's determination to not only persevere, but also make a difference.

Going from being a technician to a workshop manager and now chairman, Peng said a spirit of hard work and a determination to innovate and break through barriers became the key factors in his later success in leading machine tool foundry's transformation into Kocel Group Ltd, and in introducing the company's 3D printers to the international market.

Currently, over 80 percent of Kocel's clients are Fortune Global 500 companies and industry leaders. Among its 20 subsidiaries, 12 are national-level high-tech enterprises, while three have been recognized as "little giant" firms by the Ministry of Industry and Information Technology.

Little giant firms are top performers of small and medium-sized enterprises among specialized, high-end and innovation-driven manufacturing sectors.

Kocel also boasts more than 10 innovation platforms, both at national and provincial levels.

At a private enterprise symposium held in Beijing on Feb 17, Peng was the only entrepreneur representative from Ningxia to participate in the event attended by China's top leadership.

Peng highlighted how conversations during the event notably enhanced the confidence of private enterprises.

"The current environment, government policies, economic conditions, market opportunities, and technological advancements all contribute to a significant potential for growth. In an era where technology drives the progression of the fourth industrial revolution, the outlook for private enterprises is both expansive and promising," he said.