Guizhou's private economy drives GDP

Over the past decade, the added value of Guizhou's private economy increased by a factor of four, according to a news conference held on Sept 1.

The portion of Guizhou's GDP occupied by the private sector increased by 10 percentage points in the past 10 years, and 96.06 percent of market entities were private.

Guizhou also has two private companies listed among China's top 500 private companies.

The State Council issued the Opinions on Supporting Guizhou in Blazing New Trails in the Development of the Western Region in the New Era at the beginning of 2022 to support Guizhou's high-quality development.

It offers 103 preferential policies and provides financial support for 139 major projects in Guizhou. They are expected to allow Guizhou to reform more fields and bring more opportunities to private companies that invest in Guizhou.