Shandong district facilitates private sector development

Hezhuang town is currently home to 17 large-scale cable manufacturers and upstream enterprises. [Photo provided to chinadaily.com.cn]

Hezhuang town in Laiwu district, Jinan, East China's Shandong province, has made significant progress in promoting private sector growth, thanks to government-led initiatives that provide a platform for businesses to connect and thrive.

"Through the communication platform established by the government, we address common concerns of enterprises, such as fund turnover and financing costs, and offer solutions like loan extensions and interest-free loan continuations to enhance financial accessibility," said Jia Ping, a customer manager at the Laiwu Rural Commercial Bank's Hezhuang Branch.

In recent years, Hezhuang town has fostered a conducive environment for cable enterprises through policy support, technological collaborations, and service guarantees. "By anchoring our goals to develop a strong manufacturing industry, strengthen industrial parks, and improve supporting facilities, the town government has set up a dedicated team to provide comprehensive services to companies like Chint Cable, ensuring expedited processes," noted Li Qiang, deputy mayor of Hezhuang town.

Leveraging its concentrated cable industry, the town has bolstered industrial synergy by organizing supply-demand matching and technical exchanges among local enterprises, fostering collaboration along the industry chain to create a mutually beneficial industrial ecosystem.

Hezhuang town is currently home to 17 large-scale cable manufacturers and upstream enterprises, primarily producing high, medium, and low-voltage power cables, as well as new energy cables and equipment lines.

Last year, the town achieved a total industrial output of 3.31 billion yuan ($461.4 million) in the cable sector, a 13.81 percent year-on-year growth. This growth has laid the foundation for an industrial ecosystem centered around Chint Cable, spurring the development of numerous small and medium-sized enterprises. (Edited by Li Weiwei)