Xiangzhou District, Zhuhai

Private companies in Zhuhai can rest assured that they will continue to receive strong government support and enjoy an improved business environment. The local government held a Party group meeting on Nov 21 to ramp up efforts.

The current innovative financing mechanism that works effectively through cooperation between governments, banks, guarantee institutions, and enterprises will be further promoted to ease financial problems of private companies.

Zhuhai is striving to reduce costs of private enterprises in the city by saving them 6 billion yuan ($864 million) this year. The government will help meet their financial needs to the tune of 1 billion yuan by the end of this year and an additional 1.2 billion yuan next year. Enterprises are encouraged to make full use of preferential policies provided by all levels of government.

Workshop at Zhuhai Winner Auto Lamp Manufacturing Industrial Co Ltd [Photo by Guan Mingrong / southcn.com]

The development of private economy in Zhuhai is restricted to a small number of enterprises due to an incomplete industrial structure, and has to face a variety of rising challenges.

According to the reform, Zhuhai will further streamline administration, delegate powers, and improve regulation and services. The commercial system will make it more convenient to set up enterprises based on simplified procedures for industrial and commercial registration and preparations for day-to-day operations. The entire process should be completed within just five working days, according to an official.

Furthermore, Zhuhai proposed to further relax market access, treating private and state-owned economies equally, no matter their size.