Phoenix TV:

We know that Zhejiang's private economy is very active, with a large number of business entities. Going forward, what measures will the province take to promote its private economy? Thank you.

Du Xuliang:

Thank you for your question. Zhejiang merchants are a precious resource and wealth for Zhejiang. They are hardworking, enterprising, resourceful, and resilient. They have made outstanding contributions to the high-quality development of Zhejiang. This can be illustrated with a set of figures: By the end of 2023, the private economy had contributed 67.2% of Zhejiang's GDP, 71.7% of its tax revenue, 80.2% of its imports and exports, 87.5% of its employment, and 96.9% of its market entities. The province has ranked first in the country for 25 consecutive years for the number of top-500 private enterprises. We often say that we should not only care about what achievements these private enterprises have made, but also what challenges and difficulties they have faced. Therefore, we fully support the development of the private economy, strive to reduce pressure on the environment, provide timely assistance, and address concerns about development. By doing so, we hope to boost internal drive for development and stimulate greater vitality for innovation, creating new advantages for the development of the private economy. The main measures are as follows: 

First, we will safeguard the development of private enterprises based on the rule of law, and ensure they are confident in their investment. Zhejiang province has introduced regulations on fostering the growth of its micro, small and medium-sized enterprises and on optimizing its business environment. We have strengthened work regarding the enactment, revision, abolition and interpretation of laws and regulations related to the business environment. We have abolished and revised 20 regulations, and overhauled and standardized 2,379 normative documents, striving to create a stable, fair, transparent, and predictable environment for the development of private enterprises.

Second, we will introduce more pro-business policies for private enterprises. Among the 32 policies introduced to promote the high-quality development of Zhejiang's private economy, there are many substantial and new measures. For example, to further break the "glass doors," "invisible doors," and "swing doors" that hinder business, we proposed the "Seven Prohibitions," such as lifting restrictions on ownership forms, organizational forms, or equity structures. They are aimed to remove barriers that prevent private enterprises from participating fairly in bidding. Furthermore, to fully meet the urgent needs of private enterprises for resource elements, we have proposed a new mechanism, whereby the proportions of industrial funds, newly added land, and new energy consumption in private investment projects should all exceed 70%.

Third, we will provide continuous support for the development environment and ensure private enterprises to grow confidently. We have outlined and proposed "three lists of projects" recommended to private capital, namely, a list of major projects and those addressing weaknesses, a list of key projects on industrial and supply chains, and a list of user-pay franchise projects. Additionally, we actively support private capital's entry into traditional monopolistic fields such as railways, oil and gas. Private investment has participated in the construction of landmark projects like the Hangzhou-Shaoxing-Taizhou Railway, the Hangzhou-Wenzhou Railway, the Zhoushan green petrochemical base, and the San'ao nuclear power plant.

In summary, we will steadfastly work to consolidate and develop the public sector while encouraging, supporting, and guiding the development of the private sector. We will make greater efforts to help private enterprises solve their problems, enable private investment to enter and thrive in more areas, encourage private enterprises to expand into more markets and grow stronger, and continuously enhance Zhejiang's private economy as the "golden business card" of the province. Thank you!