GLOBALink | China's private entrepreneurs confident in achieving high-quality development-Xinhua

GLOBALink | China's private entrepreneurs confident in achieving high-quality development

Source: Xinhua

Editor: huaxia

2023-05-05 19:25:02

Confidence of China's private entrepreneurs in pursuing high-quality development is picking up.

The optimism did not come out of nowhere.

China's private sector has posted a highly-anticipated recovery. Despite weak global growth, foreign trade of China's private firms jumped 14.4 percent from a year earlier in the first quarter, accounting for 52.4 percent of the country's total.

New orders from home and abroad have kept many plants very busy.

Chinese companies in the private sector are also contributing to the country's high-quality development by working on green technologies.

While private enterprises are striving to thrive, the business environment for them is also improving, with a slew of conducive measures and promises made by governments from different levels.

In Nanjing, capital of Jiangsu Province, the government is working to simplify administrative procedures.

In Zouping City, Shandong Province, the local government has made continuous efforts to encourage private enterprises to invest in energy-saving transformation, smart automation, and digital technology.

China registered a better-than-expected 4.5 percent growth in the first quarter of this year.

The revival of private companies and the improvement of private entrepreneurs' sentiment are crucial for the country's further growth as the private sector has been a key pillar sustaining China's economic expansion.

Produced by Xinhua Global Service


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