Taizhou strides steadily in private economy

chinadaily.com.cn | Updated: 2019-01-08

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Chen Yijun, Party chief of Taizhou, is interviewed on Dialogue, a program aired on China Central Television on Jan 6. [Photo/taizhou.com.cn]

Taizhou, a coastal city in East China's Zhejiang province, is a spearhead in promoting the development of the private sector, which generates the lion's share of the city's GDP.

Taizhou, over the past four decades' reform and opening-up, had embraced great economic growth with private businesses as primary contributors. Official data show that 99.5 percent of enterprises in the city are now private, and account for over 60 percent of its GDP and more than 50 percent of its fiscal revenue.

The scenario is largely attributable to the great efforts made by local authorities to support private enterprises.

Chen Yijun, secretary of the CPC Taizhou Municipal Committee, said in a television program aired last Sunday that the Taizhou government has rolled out a raft of policies and measures to tackle problems confronting private enterprises including financing and structural upgrading.

The accumulative value of the financing guarantee development fund the city set up has topped 22 billion yuan thus far, which has helped more than 10,000 small and micro enterprises to upgrade their economic structure.

To expand financing channels, the city ramped up support for city commercial banks and encouraged local private firms to list through stock system reforms. Meanwhile, Taizhou government is continuously optimizing its efficiency, aiming to slash financial burdens on businesses and offer them the most thoughtful services.

It has also provided incentives to motivate enterprises to strengthen innovation and rev up brand building. A large number of enterprises in Taizhou have shifted to a high-quality growth model from the previous high-speed one.

Citing the intelligent toilet industry as an example, Chen revealed that four Taizhou companies in the sector have ranked among the top 10 intelligent toilet brands in China.

The Party chief dubbed the country's new round of reform and opening-up as another spring for private economy, expressing the hope that all the entrepreneurs will seize the opportunity and push forward transformation and upgrading with innovative spirits.


A staffer examines products at an intelliegnt toilet factory in Taizhou, East China's Zhejiang province. [Photo/taizhou.com.cn]