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Private Businesses Whip up Inner Mongolia's Economy
Private businesses have brought significant development momentum to north China's stockbreeding Inner Mongolia Autonomous Region, sources said recently.
Official statistics indicate that private businesses managed a revenue worth some 28.6 billion yuan (US$3.5 billion) in 2000, accounting for 21 percent of Inner Mongolia's Gross Domestic Products (GDP).
An official with the local government said that private businesses have played a critical role in increasing government income and solving the unemployment problem.
Sources said that taxes paid by private businesses in 2000 amounted to 1.5 billion yuan (US$181.4 million), accounting for 27 percent of Inner Mongolia's tax total.
Meanwhile, some 230,000 people have been employed by private businesses over the past several years.
Various preferential treatment and policies have been formulated by the local government to further the development of private businesses in terms of tax collection, loans and human resources.
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