Xiuwen takes measures to bolster private economy growth

The economic development zone in Xiuwen county. [Photo/Guizhou Daily]

Guizhou Haoyiduo Dairy Co in Xiuwen county. [Photo/Guizhou Daily]

In recent years, Xiuwen county in Guiyang, capital of Southwest China's Guizhou province, has taken various measures to bolster the development of its private economy.

Data shows that the county is currently home to 6,433 private enterprises, of which 88 are above the designated size – those with annual main business revenue above 20 million yuan ($2.79 million). Private industrial enterprises above designated size in Xiuwen achieved an output value of 3.65 billion yuan from January to June this year, realizing an added value of 626 million yuan, a growth rate of 4.22 percent.

In April this year, the county launched 10 measures to strengthen investment introduction and promote industrial development, ranging from optimizing enterprise support and tax economic benefit contribution support to talent support.

It is also optimizing services for key enterprises and projects, providing "one-on-one" services for 30 companies in the county and offering follow-up services to 105 projects under construction, which have an investment of more than 50 million yuan each.

Xiuwen attaches great significance to innovation, cutting taxes and reducing fees, broadening financing channels, reducing loan risks and costs for private enterprises, increasing efforts to cultivate local private enterprises, and supporting their development towards large-scale and high-end.

The county is also increasing support for private enterprises with industrial advantages, independent intellectual property rights, and rapid growth to help them become more competitive.

It has carried out five training sessions on enterprise digital transformation, policy declaration, and sci-tech research and innovation, benefiting more than 200 enterprises.

The county encourages private enterprises to increase investment in technological innovation, enhance independent innovation capabilities, and explore new industries, new formats, and new business models.

To support the growth of private businesses, Xiuwen is strengthening guarantees not only in electricity consumption but also in financing, having offered 125 million yuan in loans to industrial enterprises.