Yangzhou private companies see policy support from government

Yangzhou Weiyang Economic Development Zone clusters over 70 industrial companies with over 95 percent of them are private. [Photo/yznews.cn]

A policy briefing on two newly released industrial support policies targeting at Yangzhou private companies were held at Yangzhou Weiyang Economic Development Zone on Nov 5, attracting over 100 entrepreneurs.

Yangzhou Weiyang Economic Development Zone, located at the northwestern corner of Yangzhou, clusters over 70 companies with over 95 percent of them are private.

Two policies, both containing 16 regulations, were each for emerging industries and traditional industries, including perennial policies in tax revenue.

Twelve awards were also set up, aiming to encourage companies to reaching different achievements such as luring talents, becoming listed companies and attracting investments .

Facing new changes and problems in business environment such as rising cost and pressure from liabilities, private companies have been struggling to seek new development.

"The release of these two policies is a necessity and meet the demands of further development of the development zone," said Zhang Yatong, director of the administrative committee of Weiyang Economic Development Zone.