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Private enterprises give a strong boost to the reinvigoration of Liaoning


Private enterprises give a strong boost to the reinvigoration of Liaoning

PR Newswire

BEIJING, Aug. 30, 2018 /PRNewswire/ -- A news report by on China Top 500 Private Enterprises Summit:

The 2018 China Top 500 Private Enterprises Summit is held in Shenyang, capital of Liaoning province, from August 29 to 31. The grand gathering has drawn attention from across China and even the rest of the world. Representatives from Chinese business giants, such as Huawei and Jingdong, and from 15 Fortune Top 500 companies come together to discuss matters of vital importance to the development of the Chinese private sector.

The choice of Liaoning as the host of this summit is by no means accidental. Located in northeast China, the coastal province has unique geographical advantages and rich natural resources. It also has good industrial foundations and abundant human resources, making progress in scientific and technological innovation and a high rate of urbanization compared with other provinces. As the cradle of China's industry, Liaoning has made an indelible contribution to the country. However, the provincial economy remained beleaguered for quite some time, plagued by deep-rooted problems such as the monotonous economic structure and state-owned enterprises' heavy burden.

With China's economic and social development entering a new era, and its continuous deepening of reform and opening up, Liaoning's economy is also experiencing a new lease of life. In the first half of this year, the growth rate of the value added from the province's industrial enterprises with an annual operating revenue of no less than 20 million yuan ranked third in the country. In terms of contributions to Liaoning's economic growth, the proportion of private enterprises has significantly increased. On the list of China Top 500 Private Enterprises, there is no lack of world-famous enterprises like Wanda Group that went global from Liaoning.

In order to create a good environment for the private economy, inspire more people to start businesses and thus protect entrepreneurship, Liaoning has proposed to cultivate a business environment that is internationalized, law-based and convenient. In the past five years, Liaoning has abolished and adjusted over 2,000 administrative powers; significantly cut the time it takes to open a business; improved the credit rating system; and amended laws to improve the business environment. At the same time, Liaoning continues to significantly ease market access, encouraging foreign and private capitals to get involved in the reform of state-owned enterprises.

The traditional strengths, together with an open attitude and advocacy of service, will surely attract more private enterprises and facilitate them to become an important engine in boosting Liaoning's high-quality development. At this year's summit, many private enterprises have signed cooperative agreements with Liaoning, and several major projects have already landed in the province.

The summit also sets up special topics around the revitalization of Liaoning and northeast China, such as the founding conference of the province's merchants federation and the third annual mergers and acquisitions meeting in northeast China. The choice of Liaoning as the host of the summit shows the Chinese government's confidence in and concern for the province, as well as its recognition of the province's achievements in reform, opening up and economic development. We have every reason to believe that Liaoning will make a comeback in the new era toward the reinvigoration of the province.

China Mosaic

Private enterprises give a strong boost to the reinvigoration of Liaoning


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