Economic Daily:

My question is about the economy. Promoting the development of the private economy is an important task in deepening reforms in key areas. What specific measures does Qinghai have in promoting the development of the private sector? Thank you.

Wang Linhu:

I will answer your question. As you know, Qinghai is located in the western part of the country. Due to factors such as nature, geography, history, transportation, information and population, the economic volume and scale of the private economy in Qinghai are not as large as those in the coastal areas of China's mainland. However, we should follow the principle of "an act of kindness, no matter how trivial, is worth performing." Over the years, Qinghai province has placed great importance on the development of the private sector and has unswervingly implemented a series of policies and measures issued by the CPC Central Committee and the State Council on spurring the growth of the private sector to promote the high-quality development of this sector.

Since the beginning of the 14th Five-Year Plan period (2021-2025), the private sector entities have been growing at an annual average rate of 6.7%, and the total number of such entities has now reached 538,000. Based on Qinghai's resource endowment and regional characteristics, we have, on one hand, built and formed characteristic industries such as eco-environment protection, salt lake chemical engineering, clean energy, agricultural and livestock products, and cultural tourism. On the other hand, we have fostered and developed local specialty products and brands such as hand-pulled noodles, Qinghai embroidery, yaks, Tibetan sheep, Chinese wolfberries and highland barley. The private economy contributes 40% of Qinghai's GDP and 80% of urban employment in the province, making it a significant force driving the construction of a modern new Qinghai.

In practice, as just mentioned by Mr. Wu, while we are fulfilling our responsibilities as guardians of China's "water tower" and protecting the ecological security of the Qinghai-Tibet Plateau, we are also striving to explore a path of private economic development with Qinghai's local characteristics that is green, low-carbon and circular. First, in terms of policy guarantees, we have introduced multiple policies and measures related to optimizing the business environment, strengthening the private economy and promoting the development of micro, small and medium-sized enterprises. Second, in terms of environmental optimization, we have deepened the "one-stop" service reform by efficiently handling each matter, focusing on improving the core indicators of the business environment, slashing items subject to approval by 70% and streamlining procedures by 60%. Third, in terms of improving efficiency, we have launched the "Spring Breeze Action to Assist and Warm Enterprises," providing one-on-one assistance to 13,000 enterprises. We have developed the mobile app Qingsongban, enabling enterprises to handle matters instantly with just a mobile phone, which may previously require multiple trips and hundreds of kilometers of travel. Fourth, in terms of financial services, we have established a Qinghai province micro and small enterprises credit financing service platform and customized credit models with Qinghai characteristics such as "hand-pulled noodle loan," "caterpillar fungus loan" and "Chinese wolfberry loan." Since the establishment of the platform, it has provided loans totaling 14.7 billion yuan to 12,400 micro and small enterprises, saving nearly 40 million yuan in financing costs for enterprises.

Dear journalists, although Qinghai is at a high altitude, our passion for doing business and starting new ventures is even higher. Although Qinghai is in a distant place, it is also linked and connected to the world. We warmly welcome all types of investors, especially private entrepreneurs, to visit Qinghai for exploring investment opportunities or purchasing properties. We will strive to create a better market-oriented, law-based and world-class business environment, providing comprehensive services and guarantees for the high-quality development of private enterprises. Thank you.