Zhejiang hosts conference to encourage development of private economy

Zhejiang authorities hosted a high-profile conference themed on the development of the province's private economy in the provincial capital of Hangzhou on Jan 7.

Among the attendees were Yuan Jiajun, Party secretary of Zhejiang, Wang Hao, acting governor of Zhejiang, senior officials of the provincial government as well as 200 businesspeople from the province's privately-owned companies, including well-known business tycoons such as Li Shufu, of Geely, Nan Cunhui of Chint, Xu Guanju of Transfar, Zong Qinghou of Wahaha, and Wang Jianyi of Futong.

Only two conferences of the same theme and significance had been held in Zhejiang before - one in 2004 and the other in 2012.

In his keynote speech at the conference, Yuan stressed that Zhejiang will continue to encourage and bolster the development of private economy.

The provincial government also announced a list of 48 entrepreneurs who have been named as outstanding contributors to the province's socioeconomic development in 2021. In addition, high officials granted certificates to representatives of the 96 Zhejiang-based companies that made the "Top 500 China Privately-Owned Enterprises in 2021" list.

Li Shufu, chairman of Geely Holding Group, Zhang Tianren, chairman of Tianneng Group, Fu Liquan, chairman and president of Dahua Technology Co, and Jin Hangang, a Yiwu-based wharf wholesaler, spoke at the conference.

Zhejiang has for many years been a leading force in China's private-sector economy. The province is currently home to 96 of China's top 500 private-sector companies in 2021, the highest number among all Chinese provinces for the 23rd consecutive year.

As of the end of 2021, Zhejiang was home to 8.69 million business entities. The province's permanent resident population as of the end of 2020 was 64.5676 million. In other words, there is one business owner among every eight residents in the province.