The private economy has become the backbone of Shenzhen’s high-quality development, as the city pushes for a level playing field for private companies, Shenzhen Special Zone Daily reported.
As of Sept. 28, the number of private business entities in Shenzhen exceeded 3.4 million, accounting for 98.1 percent of all business entities in the city, according to statistics from Shenzhen Institute of Standards and Technology (SIST).
The total number of private enterprises reached 2.14 million, accounting for 97 percent of the total number of enterprises in the city, data from SIST showed.
Shenzhen’s entrepreneurial density ranks first in China. According to statistics, the city has 159 private enterprises per 1,000 people. At present, the number of employees at private enterprises in Shenzhen has topped 9.49 million, accounting for 87 percent of all employees in the city.
From January to August this year, 203,100 new private enterprises, an increase of 14.45 percent over the same period last year, were set up in Shenzhen. This means about 1,246 new private enterprises are being registered every working day on average.
In recent years, Shenzhen has continuously ramped up efforts to promote the healthy development of private enterprises, reducing the burden of enterprises with practical actions.
In strategic emerging industries, the contribution rate of private economy to economic growth has exceeded 50 percent.
From the beginning of this year to Sept. 28, the number of newly established private enterprises in strategic emerging industries reached 19,800, an increase of 32.46 percent over the same period last year, statistics from SIST showed.
Fang Xianyang, founder of Shenzhen Anxing Information Technology Co. Ltd., attributed the rapid rise of private firms in Shenzhen to the city’s ever-improving business environment.
“The government departments have led all parties to create a good business environment, attracting entrepreneurs to operate business in the city,” Fang told the Daily.