Quzhou issues 30 measures to boost private economy

Quzhou Municipal Government issues 30 measures to create a sound business climate and promote the development of local private companies at a recent press conference. [Photo provided to chinadaily.com.cn]

Quzhou Municipal Government issued 30 measures to create a sound business climate and promote the development of local private companies during a recent press conference in the Zhejiang city.

The newly-issued measures focus on solving problems encountered by local private companies in financing, recruiting, innovation, cost reduction, market withdrawal, and approval for land use.

A total of 15 billion yuan worth of tax is expected to be reduced on private companies in the next three years.

To date, the city has housed more than 40,000 private companies, representing over 80 percent of companies in Quzhou. Private economy in the city generated an added economic value of 103 billion yuan ($15 billion) in 2017, contributing greatly to the city's economic development.

The local municipal government is continuing to explore how to efficiently promote the high quality development of its private economy and create a thriving business climate. These goals were included in the Government Work Report 2018 as one of the local government's 10 key projects.