Abstract: When China is at the critical stage of building a modern socialist country in all respects, promoting the high-quality development of the private economy holds significant strategic importance. In the new stage of development, the private economy plays a central role in building a new development pattern, cultivating new quality productive forces, and in promoting common prosperity, while institutional guarantee, innovation drive, factor allocation and open coordination are the key links to achieve high-quality development of the private economy. In the new era, the high-quality development of private economy is confronted with multiple challenges, including a tightening international environment, pressure on industrial upgrading, obstacles in policy implementation, and weakening of domestic demand momentum. In order to effectively promote the high-quality development of the private economy in the new era, it is necessary to take effective measures to stimulate market vitality by breaking down hidden barriers, building an independent and controllable innovation ecosystem, expanding the growth space of domestic and foreign markets, breaking the bottleneck of capital and talent data, and by seizing the strategic highland of global competition so as to ensure that private economy becomes the source of China's new productivity and the practitioner of Chinese-style modernization.

Key words: private economy, high-quality development, new quality productive forces, new development paradigm, emerging sectors of strategic importance