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Private Firms, Big Economic Generator in Zhejiang
Private businesses have been making increasing contributions to economic growth in east China's Zhejiang Province, which ranks the fourth in China in terms GDP.
By March, there were 153,000 private companies. Local private firms generated 399.4 billion yuan in industrial output value last year, up 25.87 percent on a yearly basis, and dealt with 23.32 billion yuan worth of exports, up 116.9 percent.
Local private businesses are engaged in a wide range of areas from knitting, garments, toys, farm products, machinery, electronics to chemicals, household appliance and auto parts.
The province now has 13 private enterprises with more than 100 million yuan of assets each. Thirty-six have an annual output value exceeding 100 million yuan.
Local private firms have patented more than 13,000 trade marks, 34 of which are known nationwide.
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