In the 70 years since the founding of People's Republic of China, China's private economy has generally presented a "U"-shaped development track, which is an important force for promoting economic and social development. In 70 years, the private economy has gone through the stage of production resumption from 1949 to 1952, the stage of social transformation from 1953 to 1977, the stage of reform and development from 1978 to 1991, the stage of rapid development from 1992 to 2002, the stage of scientific development from 2002 to 2012, and the stage of high-quality development from 2012 to now. The enlightenment of the development of private economy in People's Republic of China may include: upholding CPC leadership is the fundamental guarantee; emancipating mind is a necessary prerequisite; respecting initiative of the masses is an inexhaustible force; creating a good business environment is a decisive factor; and promoting excellent entrepreneurship is the endogenous driving force. In the new era, China's private economy must practice the new development concepts of innovation, coordination, green development, opening up, and sharing to promote high-quality economic development.
