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Chinanews, Hangzhou, July 15 – The Zhejiang local government issued a report on the economic operation of private business in Zhejiang on Thursday. The report shows that Zhejiang surpasses all other provinces in China in the general competitive strength of its private economy.
Among the top 500 private enterprises in China, 203 are located in Zhejiang, the most among all Chinese provinces. Zhejiang leads other provinces in total output of private economy, total sales, total retail1 sales of consumer goods, and export volume, all of which are considered as the most effective indexes reflecting the aggregate2 strength of private economy of a region, the report says. Statistics show that by the end of 2006, there are 406,000 private enterprises in Zhejiang. The total number of investors3 of these private enterprises reached 926,000, and the total number of employees working in these companies reached 5.09 million. The total registered capital of these companies reached 693.67 billion yuan. Private economy generated 1.25 trillion yuan. By the end of 2006, there were 1,500 private enterprises in Zhejiang, each with total assets exceeding 100 million yuan. There're about 1,700 private enterprises, each with an annual output value or sales volume exceeding 100 million yuan. Currently, 4 million Zhejiang businesspeople are working in other provinces in order to expand their business. The sales revenues made by these Zhejiang businesspeople have already exceeded one trillion yuan, an amount equivalent to the GDP of Zhejiang province in the year of 2005. This does not include the 1 million Zhejiang merchants who do their business abroad. The number of Zhejiang businesspeople, Zhejiang enterprises, and the amount of capital made by Zhejiang businesspeople are continuing to rise, forming as the main type of business expansion for Zhejiang province.
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