Xin Changxing, secretary of the Communist Party of China Jiangsu Provincial Committee, has pledged to bolster the province’s private sector enterprises through tailored policies and actionable measures aimed at driving economic growth.
Private enterprises account for approximately 98 percent of all businesses in Jiangsu and contribute about 60 percent of the province's economic output.
"We have tasked provincial leaders with spearheading research initiatives aimed at fostering the healthy development of the non-public sector economy and its entrepreneurs, while strengthening regulatory and institutional frameworks to drive high-quality growth in the private economy. Efforts will also focus on refining and elaborating Jiangsu Province's strategies and measures to advance the high-quality development of the private economy through targeted policies and practical steps. We will fully implement President Xi's important instructions and the central government's directives," said Xin.
Xi attended a a symposium on private enterprises in February, urging efforts to promote the healthy and high-quality development of the country's private sector. He stressed that it is a prime time for private enterprises and entrepreneurs to realize their full potential.
To support private business, Jiangsu has established a provincial database of key private investment projects, with the 200 projects in the database now receiving the same land, environmental, and regulatory benefits as major provincial initiatives. This year, Jiangsu will also introduce new legislation to safeguard private enterprises' growth both domestically and internationally.
"We will protect the legitimate rights and interests of private enterprises and entrepreneurs in accordance with the law, ensure fair development opportunities, and address their urgent challenges through practical support. Our goal is to empower entrepreneurs to focus wholeheartedly on innovation, operations, and growth," said Xin.
Looking ahead, Xin said Jiangsu aims to strengthen the role of private enterprises in technological innovation by prioritizing private firms in major research projects, increasing access to scientific and technological platforms, accelerating the commercialization of research findings, and enhancing policy support for innovation to turn technological advancements into real economic drivers.
Jiangsu Province champions private sector growth with targeted policies for high-quality development
