Private economy thrives in Guanshanhu

Gunshanhu district in Guiyang, the capital of Southwest China's Guizhou province, has stepped up the high-quality development of its private economy amid the fallout from the pandemic, shrinking demand and supply shocks.

The district held a conference on the high-quality development of its private economy on Feb 20, taking measures to improve its private economy and sounding the clarion for its high-quality development.

As of the end of 2022, there were 97,666 private enterprises in the district, accounting for 94.71 percent of all market players and representing an increase of 13.83 percent over the same period of last year.

In the commercial and trade sector, there were a total of 181 wholesale, retail, and catering enterprises above designated size, of which 163 were private enterprises – accounting for 90 percent of the total.

Behind the healthy and orderly growth of the private economy was strong policy support from district authorities. Since last year, Guanshanhu has successively unveiled a number of policies to accelerate new industrialization and promote investment, and has taken measures to support the high-quality development of the private economy.

It is hoped that these policies and measures will lead to breakthroughs in the industrial sector, optimize the business environment, expand investment, and boost the high-quality development of the private economy.

Wang Chuanfu, head of a factory of Guiyang Zhong An Technology Group, said that the company's achievements last year were encouraging. "This year, we will optimize the layout of products such as photovoltaic cables and high-voltage lines for new energy vehicles and continue to expand the scale of the new energy industry. In the meantime, we will carry out research and development related to 15 cable projects."

This year, the company aims to achieve an industrial and trade output value of 4.5 billion yuan, Wang said.

People gather at the Shiji Jinyuan Shopping Center in Guanshanhu district. [Photo/Guiyang Daily]

An employee works at Guiyang Zhong An Technology Group's factory in Guanshanhu. [Photo/Guiyang Daily]