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Shanghai pushing private company development

Updated: 2016-02-05

( chinadaily.com.cn )

At a regular session of the city of Shanghai's Pudong New District's industry and commerce association,  it was recently announced that the district is giving priority to private enterprises and entrepreneurships as part of its strategic development for this year and that it is building four sites for creative entrepreneurs.

The president of the association, Chang Zhaohua, in a work report explained the work of the four sites – interaction between government and enterprises, cooperation and exchanges, idea collecting, and the Internet – then went on to emphasize that there will be policies to help private enterprises, and better government services.

The district now has about 220,000 enterprises, with 5 trillion yuan ($820 billion) in registered capital. And 180,000 of them are private enterprises, which account for 30 percent of district revenues and, with some emerging industries, such as finance and information technology, showing good performance.