The private sector has played an important role in driving China's economic development.
Official data show that it generates over half of the nation's tax revenues, contributes 60 percent of annual GDP, drives 70 percent of technological innovations, provides 80 percent of urban employment, and accounts for 90 percent of all enterprises.
According to data from the State Administration for Market Regulation, as of the end of September, China had more than 5 million private companies, a 6-percent increase from the previous year, along with 125 million self-employed businesses, which grew by 3 percent. Combined, these figures represent a fourfold increase over the past decade.
The private sector has also outperformed the broader economy in investment and trade. In the first 10 months of the year, private investment (excluding real estate development) grew by 6.3 percent, while imports and exports from the private sector surged by over 9 percent compared to the previous year.
Chinese lawmakers are deliberating a draft of the country's first basic law specifically focused on the development of the private sector.
Lawmakers agreed that the law will be of great significance for further optimizing the environment for private sector development, accelerating the formation of a new development paradigm and driving high-quality growth.
Private sector important in driving Chinese economic development
Ice and snow sports enthusiasts and tourists alike are reveling in numerous winter fun activities launched to boost tourism in southwest China's Sichuan Province and central China's Hubei Province.
In Ya'an City, Sichuan Province, a local ski resort opened to the public on Monday, featuring ski shows. Performers in various ski costumes demonstrated impressive skiing skills, drawing cheers from the audience. Both professional skiers and beginners were able to enjoy the thrill of skiing in winter here.
"It's my first time to try skiing. It's exciting and fun. I can see the Minya Konka peak, which is stunning," said Chen Keyi, a tourist.
"There are many winter tourism activities, and the temperature is perfect. We feel comfortable and cozy," said Qu Feng, another tourist.
In addition to performances, local authorities have used the area's natural resources, combining winter tourism with hot springs and local cuisine.
In Huanggang City, Hubei Province, skiers from nearby areas flock to the Taohuachong Ski Resort to experience the speed and excitement of winter sports. At an altitude of 1,088 meters, surrounded by pines and cedars, this ski resort stands out for its breathtaking views of rime. To enhance the tourist experience, Taohuachong has added three new ski runs.
"This ski resort is huge. We feel relaxed," said Li Mei, a tourist.
Local authorities have also integrated various resources, including ice and snow, hot springs, cuisine, and cultural products, to create a range of one-stop winter tourism experiences. With favorable winter tourism policies, these offerings are drawing more visitors.
"We headed for the hot spring right after skiing. It's been a wonderful and cozy experience," said Xia Ling, a tourist.
Winter fun activities draw tourists to Sichuan, Hubei
Winter fun activities draw tourists to Sichuan, Hubei
