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Last updated at: (Beijing Time) Tuesday, November 04, 2003

China to sponsor forum on private economy

The Chinese government is to sponsor a special forum to discuss its fast-growing private economy sector on Nov. 10-11 in Wuhan, capital of central China's Hubei province.


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The Chinese government is to sponsor a special forum to discuss its fast-growing private economy sector on Nov. 10-11 in Wuhan, capital of central China's Hubei province.

Government officials, economists and business leaders would attend the forum, said a spokesperson for the organizing committee Tuesday.

China's non-public economy accounts for over a third of the nation's gross domestic product. At present, China has 23.77 million individual industrial and commercial businesses with a total workforce of 47.42 million, and 2.43 million private enterprises, employing 34 million people.

China also boasts approximately 200,000 enterprises funded by overseas businessmen, employing more than 23 million people.

The forum would discuss, among other issues, the establishment of the market system, the opening of market system and private economy's market access, economic structural reforms and the growth of private economy, and the legal status and protection of the private economy in China, said the spokesperson.

The Donghu Forum for China's Private Economy is sponsored jointly by the All-China Federation of Industry and Commerce, the China Association for the Promotion of the Glorious Cause and the Wuhan municipal government.


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