Private Businesses Perform Well In Shanghai

Taxes paid by private businesses in Shanghai saw a year-on-year 32 percent rise to 630 million yuan in January this year, according to latest official statistics available.

Private businesses have been playing an increasingly important role in promoting local economic development, with the support of the local government.

Shanghai now has a total of more than 290,000 private enterprises and self-employed households, with employees totaling 1.4 million.

Last year the local private businesses registered a total income of 141.5 billion yuan, up 30 percent over the previous year, and they paid 4.8 billion yuan in taxation, up 40 percent. Shanghai has more than 5,800 private enterprises engaged in technological and information consultative services, 62 of which are considered as hi-tech firms, accounting for seven percent of Shanghai's total hi-tech enterprises.

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