The Jiangyan district in Taizhou city – located in East China's Jiangsu province – has undertaken various measures to support the private sector and boost its business environment.
So far this year, the district has provided tax reductions and exemptions benefitting more than 57,000 private companies, to the tune of 1.92 billion yuan ($264.33 million).
Additionally, a guarantee fund pool of 100 million yuan has been established to financially support strategic emerging industries, resulting in the granting of 694 new credits worth 2.71 billion yuan.
The district has also prioritized addressing the concerns of private businesses through over personal 500 visits by advisors, resolving over 80 problems faced by the enterprises.
Furthermore, the use of a WeChat mini program called Liangjiahui is said to have facilitated efficient communications and resource sharing among local enterprises, government bodies and experts – leading to increased productivity and reduced costs.
A businessman opens up the Liangjiahui WeChat mini program. [Photo/zhjjwx.jsjjw.cn]
In the Jiangyan Economic Development Zone, companies situated in Liangxu Street have formed an alliance with the local chamber of commerce and experts to promote the development of electric power and the electrical industry. The alliance has sought guidance from experts from universities to assist local enterprises in solving technical issues.
An interior view of a factory floor in the Jiangyan Economic Development Zone. [Photo/zhjjwx.jsjjw.cn]
As a result, with professional guidance manufacturer Taizhou Tianli Iron Core Manufacturing Co Ltd has experienced a 10 percent increase in production efficiency.
Through the sharing of resources – including over 10 technicians and five sets of general technical equipment – the alliance has helped enterprises reduce costs by 3 million yuan, fostering industrial and technological advantages for the companies.