Private economy plays an important role in Jiangsu. At the first stage of the outbreak of COVID-19，the private economy was seriously damaged，but in the medium term，it rebounded strongly and entered a stable recovery stage. The impact on different industries is not the same. The impact on traditional industries and labor-intensive industries is greater than that on new-technology industries. After the outbreak of the COVID-19，governments and public departments in Jiangsu Province quickly responded and issued a series of supporting policies，which helped private enterprises to resume work and production and successfully tide over the epidemic. The epidemic situation has a dual impact on the future development of the private economy. It will not only cause great challenges，but can also promote the transformation and upgrading of the private economy. Jiangsu should actively learn from other developed provinces and regions，introduce supporting policies in financing，tax reduction，employment stability，operating cost reduction，and scientific and technological innovation，so as to promote the joint efforts of various departments and regions，and provide strong support for the sustained and stable development of private economy.