Zhanjiang ready to take place on world stage

Local government uses meeting to introduce plans, spark dialogue

More than 1,000 entrepreneurs from around China participated in a pro-investment meeting on June 12 in Zhanjiang, Guangdong province.

Zhanjiang government officials introduced 40 measures covering seven areas that they believe will stimulate business development in the city.

Zhanjiang Mayor Wang Zhongbing has actively encouraged the development and implementation of a range of measures designed to provide both more space and an improving climate for entrepreneurs in the city.

Private enterprises have become a new driving force behind the economic development of Zhanjiang and accounted for 64 percent of the city's total GDP in 2015.

The new policies will see administrative fees and some taxes abolished, and risk compensation mechanisms will be introduced to reduce financing risks for small and micro enterprises. In addition, enterprises registered in Zhanjiang will receive government subsidies if they become listed, and the city government will reward enterprises that undergo successful scale expansion, providing constant financial support for the technological transformation of private enterprises.

Zhanjiang's government will also increase the local enforcement of intellectual property rights protection laws and continue to encourage more private enterprises to establish cooperation platforms with local universities and colleges.

In addition, the city government will provide more opportunities for local private enterprises to cooperate with countries and regions along the Belt and Road Initiative and invest in Association of Southeast Asian Nations member countries.

Small and micro enterprises in Zhanjiang with exports below 19.74 million yuan ($3 million) receive an 80 percent insurance subsidy from the provincial government, with the city government providing the remaining 20 percent.

The Zhanjiang government will establish a special fund totaling 10 million yuan annually for the development of small and medium-sized enterprises. It will also strengthen the supervision of policy implementation and increase its ability to solve complaints from enterprises.

"We sincerely hope entrepreneurs will take full advantage of Zhanjiang's funding, industries, technologies, market and information resources," said Wei Hongguang, Zhanjiang Party chief.

Businesspeople from the city visited a number of industrial projects in Zhanjiang after the meeting.

Li Zhong, president of Guolian Seafood Co, said: "Now is a crucial moment for private enterprises' transformation and technology upgrading. The government's preferential policies are timely and, if they are well implemented, will inject new vitality into the economy."

In 2015, the value of Zhanjiang's private economy reached 152.6 billion yuan, accounting for 64 percent of the city's gross domestic product and 71.6 percent of total economic growth.

At present, 40 percent of innovative achievements in the city come from private enterprises, whose number also accounts for 90 percent of all high-tech enterprises.

By the end of May this year, the number of private enterprises in Zhanjiang had risen to 214,000, accounting for 93.5 percent of all registered enterprises, and taxes paid by private enterprises netted 23.9 billion yuan, accounting for 65.5 percent of the city's tax receipts.

Zhanjiang has seen a boom in investment and construction in recent years, after it was listed as a pivot city in the Belt and Road Initiative, and following its participation in the national strategy of military and civilian integration.

zhuanti@chinadaily.com.cn

(China Daily 06/21/2016 page15)