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Research institution on private economy unveiled in Yiwu

chinadaily.com.cn| Updated: April 21, 2023 L M S

Yiwu in Zhejiang province unveiled China's first research institution dedicated to the development of the private economy on April 14.

The China (Yiwu) Private Economy Development Research Center was founded by the Yiwu Market Supervision Bureau and the Yiwu Industrial and Commercial College. The center will have a research think tank and exchange platforms, as well as organize training sessions, forums and summits.

The center will develop an index system and model for assessing the economic vitality and development trends of private businesses. The indexes and model will be used to aid government decision-making processes and market operations.

Yiwu has over 940,000 registered market entities, among which approximately 670,000 private businesses have thrived, ranking second among county-level cities in the country and accounting for 10 percent of the total number of private businesses in Zhejiang province.