Market exploitation

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 ASEAN. Enterprises taking part in the Canton Fair, International Aquatic Products Exposition and other international or national events in Guangdong will get certain allowances. And for small and micro enterprises with exports below 19.74 million yuan ($3 million), they will get an 80 percent subsidy for insurance from the provincial government, with the city government providing the other 20 percent.

System improvement

The city government will set up a special fund of 10 million yuan every year for the development of small-and medium-sized enterprises. Meanwhile, it will also strengthen the supervision on policy implementation and increase its ability to solve complaints from enterprises.

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 (GDP) 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 hi-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 the total registered; employees from private enterprises numbered 1.01 million, accounting for 72.1 percent of all workers in industrial and tertiary industries; and tax contributed by private enterprises had netted 23.9 billion yuan, accounting for 65.5 percent of the total.

Zhanjiang has experienced a boom in investment and construction in recent times, following the city being listed as one of the pivot cities along the Belt and Road Initiative and taking part in the national strategy of the military and civilian integration.

Private enterprises have become a new driving force behind the economic development of Zhanjiang and account for 64.1 percent of the total economic growth of the city. The city's government will continue to press ahead with a pioneering spirit to implement the above measures and solve difficulties to accelerate its development into an important economic center in the Beibu Gulf rim, according to Wei.

The city government issued a total of 40 measures to bolster the development of local private enterprises. [Photo/yinsha.com]