Chinese startups thrive with opening-up policies

China's opening-up policy brings significant impacts within China and the world，said an expert in global value chains.

The private sector, especially hi-tech firms like DeepSeek, has shown their potential in the industrial revolution, said Yin Xiaopeng, dean of the Research institute for Global Value Chains, University of International Business and Economics.

"As we know, we're facing a new era of industrial revolution so high tech innovation is very important. From this point of view, China's opening-up will benefit both sides - Chinese firms, including private firms and international firms," said Yin.