The city of Nantong has released a series of supportive policies to solve the difficulties encountered by private enterprises in terms of startup thresholds, costs, innovation, and financing so as to boost and strengthen the development of the private sector, according to a high quality development conference on private economy held Tuesday.
The Policy Measures for Promoting the High-quality Development of the Private Economy was released at the conference.
The city will set up private enterprise service centers at the city and county levels to coordinate and solve difficulties in the operation of enterprises, according the measures.
It will also set up the first phase of the 1 billion yuan bail-out fund to help listed companies mitigate the risk of collateral loan.
The policy measures will help the high-quality development of the private economy in ten aspects in a bid to reduce factor costs, solve financing problems, support innovation and transformation.
Nantong now registers 200,000 private enterprises and 600,000 self-employed households. The private economy makes up 92.5% of the listed companies in the city and 95% of high-tech enterprises, creating jobs for more than 90% of the urban employment population and contributing 66.7% to the GDP and 75.6% to the tax revenues. The added value of the private economy accounted for 67.7% of the local GDP.
(Source: ourjiangsu.com)
