Wu Qing, chairman of the China Securities Regulatory Commission, has called on private tech enterprises to stay confident and maintain the entrepreneurial spirit of "those who dare to fight will win" as China accelerates a new round of capital market reforms and opening-up despite external challenges.

Wu made the remarks during a recent symposium in Beijing with representatives from private enterprises in sectors such as integrated circuits, new energy vehicles, intelligent manufacturing, new materials, commercial aerospace and the internet economy, the CSRC said in a statement on Thursday.

He said the CSRC will carry out comprehensive reform in capital market financing and investment, stressing the importance of respecting market principles, enhancing inclusiveness and adaptability and improving the transparency and predictability of regulations.

Efforts will also be made to improve the multi-tiered market service system across the full life cycle of enterprises and to strengthen support for high-quality private firms to become stronger, he said.

As outstanding representatives of the private economy and new quality productive forces, private tech firms should stay confident and carry forward the spirit that "those who dare to fight will win", Wu said, encouraging them to make full use of the capital market to upgrade and grow stronger, deliver better returns to investors and contribute to high-quality development and Chinese modernization.