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Private Sector Booms in China's Largest SEZ
The private sector has become an important part of the overall economy of Hainan Province, China's largest special economic zone (SEZ).
More than 400 of the total 600 IT companies in the SEZ are private companies, accounting for 83 percent of the total figure in terms of registered capital, according to a local official source.
What's more, according to the source, more than 70 percent of the SEZ's pharmaceuticals factories are privately owned.
Now, the source said, Hainan has over 60 high-tech private enterprises, including the country's largest computer-aided forgery-prevention company and the country's leading hospital management system software producer.
By the end of last year, the source said, the SEZ had opened more than 20,000 private companies, with their total registered capital reaching 34.1 billion yuan (some US$4.16 billion).
The SEZ also has 7,248 overseas-funded enterprises, which have introduced nearly US$1.7 billion of investment, the source said.
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