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August 22, 2024, Hangzhou, Zhejiang. Visual China Photo

Zhejiang, a “province with a strong private economy”, has established a Private Economic Development Bureau.

On August 24, the Zhejiang Provincial Party Committee held a press conference to introduce the Fifth Plenary Session of the 15th Provincial Party Committee held on August 23. At the press conference, Du Xuliang, Secretary of the Party Leadership Group and Director of the Zhejiang Provincial Development and Reform Commission, introduced that in the new round of institutional reform, the Zhejiang Provincial Party Committee specifically approved the establishment of a Private Economic Development Bureau in the Provincial Development and Reform Commission to better coordinate the accelerated development of the private economy.

According to a notice of appointment and removal of positions and ranks released on the official website of Zhejiang Provincial Development and Reform Commission in mid-July, Hong Xuhui was appointed as the director of the Private Economic Development Bureau of the Provincial Development and Reform Commission, and was removed from his position as the director of the Service Industry and Consumption Division. The information shows that Zhejiang Provincial Development and Reform Commission has established the Private Economic Development Bureau, and the first director is Hong Xuhui, who previously served as the director of the Service Industry and Consumption Division.

Zhejiang is an important birthplace of the private economy, and "a strong private economy means a strong Zhejiang economy." Du Xuliang introduced at the press conference that last year, the private economy contributed more than 60% of Zhejiang's GDP, more than 70% of taxes, more than 80% of foreign trade exports, more than 80% of new jobs and more than 90% of market operators.

The Third Plenary Session of the 20th CPC Central Committee proposed to adhere to and implement the "two unshakable" principles. After the plenary session, Yi Lianhong, Secretary of the Zhejiang Provincial Party Committee, visited the Zhejiang Chamber of Commerce as his first stop, preached the spirit of the plenary session to representatives of entrepreneurs, and stressed the need to promote the high-quality development of private enterprises and make the golden business card of Zhejiang merchants shine brighter. The Fifth Plenary Session of the 15th Zhejiang Provincial Party Committee on the 23rd proposed to "build a new high ground for the high-quality development of the private economy."

Regarding how to promote the high-quality development of Zhejiang's private economy, Du Xuliang said that in the next step, the province will push the development and growth of the private economy with greater efforts, specifically by adhering to the "four principles".

First, we must persist in policy efforts. We must fully implement the "32 Articles on Private Economy" issued by Zhejiang last year, ensure that the "3 70%" (the proportion of industrial funds, new land use, and new energy consumption supporting private investment projects must be above 70%), and "7 prohibitions" such as "not limiting the ownership form, organizational form or equity structure of bidders" are implemented without compromise. Specifically, we must implement the policy opinions on regulating the bidding market just issued by the provincial government, ensure that private enterprises participate fairly in bidding activities, and further break down the "glass door", "invisible door" and "spring door"; dynamically improve the "1+N" policy system for the private economy, and at the same time, the guidance opinions and operating guidelines must be clearly understood and beneficial to enterprises, so as to broaden the development space for private enterprises.

Second, we will adhere to investment-driven development. We will improve the long-term mechanism for private enterprises to participate in the construction of major projects, and promote fair opening of competitive infrastructure fields to business entities. At the same time, we will promote more than 100 key projects to social capital each year in the fields of transportation, energy, water conservancy, etc. We will actively help private enterprises to obtain investment support from the central budget for projects that meet the conditions. We will create several examples of major infrastructure projects such as nuclear power and wind power where private capital participates in the equity.

Third, we will continue to help enterprises solve problems. We will establish regular communication and exchange mechanisms with private enterprises and efficient closed-loop solutions to enterprise-related issues, timely understand the needs and difficulties of private enterprises, fully listen to their opinions and suggestions, and effectively solve the bottlenecks, difficulties and pain points in the development of enterprises. At the same time, we will focus on market access barriers, financing difficulties and high financing costs, and comprehensive credit evaluation of private enterprises, and iterate a batch of highly targeted new policies and measures.

Fourth, we will continue to optimize the environment. We will promote the value-added reform of government services, build a close and clean relationship between government and business, protect the property rights of private enterprises and the legitimate rights and interests of entrepreneurs in accordance with the law, further standardize the compulsory measures involving the property rights of private enterprises, and minimize the impact of investigations and cases on normal office work and legal production and operations in accordance with the law. At the same time, Zhejiang will continue to increase the protection of intellectual property rights and deepen the integrated reform of the entire intellectual property chain. We will strive to create an environment of public opinion and an atmosphere of the times that encourages innovation and tolerates failure, and crack down on deliberate hype, rumors and smears on private enterprises and private entrepreneurs in accordance with the law.

In 2023, the Central Organization Department officially approved the establishment of a Private Economy Development Bureau within the National Development and Reform Commission as a specialized agency to promote the development and growth of the private economy. Since the beginning of this year, many provinces have established provincial-level private economy-related departments. For example, the Fujian Provincial Development and Reform Commission adjusted and established the Private Economy Development Office, Shanxi established the Provincial Private Economy Development Bureau, which was renamed from the Provincial Small Enterprise Development Promotion Bureau, the Qinghai Provincial Development and Reform Commission established the Private Economy Development Bureau, and the Inner Mongolia Autonomous Region Development and Reform Commission established the Regional Private Economy Development Service Bureau.