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Private SMEs seen as key force for GETDZ's future

Updated: 2020-08-24 08:40:23

By the end of 2019, there were 8,915 small and medium enterprises or SMEs registered in the Guiyang Economic and Technological Development Zone (GETDZ) -- in Guiyang, capital city of Southwest China's Guizhou province -- according to GETDZ officials.

They quoted information from a symposium on private enterprises held in the zone on Aug 20, which said that the total included 8,329 private enterprises, which accounted for 93.4 percent of the SMEs.

At the forum, an internal research report on the development of the private economy in the GETDZ, showed that private enterprises occupied an important position in its economic development.

According to officials, in recent years the zone has focused on leading industries -- such as the advanced equipment manufacturing industry, big data electronic information industry, health medicine industry, new energy and smart power grid industry, and the modern services industry.

They said the zone has supported and developed the private economy and made great efforts to optimize the business environment.

It had fostered existing businesses and introduced a number of specialized and innovative private enterprises there.

GETDZ officials said that among the 76 manufacturers above a designated size in the zone – those companies with an annual revenue of 20 million ($2.9 million) or more -- 45 were private enterprises, accounting for 59 percent, or more than half the total.

Turning to big data enterprises, the report found that currently there were 422 big data enterprises in the zone -- including electronic information manufacturing industry enterprises -- of which 415 were private enterprises, accounting for 98.34 percent of the total.

 

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