Xiangzhou District, Zhuhai

Critical measures to stimulate Zhuhai's private economy, put forward by Zhou Linsheng, vice president of the China Society of Economic Reform, were highlighted in the May 29 issue of the South Daily.

Zhuhai private enterprises are developing rapidly to become the backbone of the local economy and have built themselves into industry leaders. Chief among them are Livzon Pharmaceutical Group, Kingsoft Software, and Meizu Technology. They play a significant role in the city's new-round development which is driven by innovation and requires massive government support.

Compared with those of other cities in Guangdong Province, Zhuhai's private enterprises are not so strong in terms of total economic volume which accounts for their low proportion of GDP; they are also restricted by an un-optimized industrial structure. Data shows Zhuhai's private economy's added value is the smallest in the Pearl River Delta's nine cities, and only accounts for 2.5 percent of the total.

Meizu headquartered in Tangjiawan Town of Xiangzhou District, Zhuhai [Photo courtesy cityofzhuhai.com]

Zhou suggested legal guarantees of intellectual property rights should be enhanced by including IPR-related activities into the credit information management system.

In addition, an online platform should be established to review and regulate investment projects relying on internet plus and big data technologies.

Stronger talent incentives are another key solution, according to the article. High-caliber professionals are likely to be attracted to the city if housing subsidies and government funds are easily accessible. They also care about whether there is a well-established professional ranking system.

Approval procedures for overseas investment projects should be simplified. Meanwhile, establishment of overseas industry associations and chambers of commerce are also good for private economic development. The enterprises' "going out" ambition should be backed by local government with improved tailored service.