On August 29, 2023, when U.S. Commerce Secretary Gina Raimondo was in China on a four-day visit, China's Huawei released a stunning new phone — the MATE 60 Pro, a phone which uses Huawei's independently developed Hongmeng operating system and Kirin chip. The new phone can connect to 5G networks, and can also be used for satellite calls. Its performance and battery life are excellent, and its exterior design adopts a unique concentric circle motif with multiple color choices. This phone has sparked a buying frenzy in the Chinese market and has also received widespread attention and discussion internationally.

Photo taken on July 7, 2023 shows the Huawei booth at the World Artificial Intelligence Conference in Shanghai. [Photo by Chen Yuyu/China News Service]

Huawei is a Chinese non-governmental business. Its success in the development of 6G shocked the American government so much that it decided to try to strangle Huawei "in the bud." The American government used its influence to pressure its international allies to ban selling high-grade chips to Huawei.

American sanctions obviously caused almost fatal trouble to Huawei. However, when the American government was clinking champagne glasses with its allied governments, Huawei shocked the United States and the rest of the world with its game-changing breakthrough.

Huawei is one of approximately 50 million registered private enterprises in China, a figure which has more than quadrupled in the past decade, accounting for over 92% of the total number of enterprises in the country. In terms of economic performance, the private economy contributes over 50% of tax revenue, over 60% of gross domestic product (GDP), over 70% of technological innovation achievements, and over 80% of urban labor employment. Over the past decade, the proportion of private investment in fixed-asset investment has never been lower than 55%, and the export volume of private enterprises has accounted for 63% of the nation's total.