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Beijing Private Sector Employs One Million People
The private sector in Beijing employs over one million people, accounting for ten percent of the overall employment in the city, according to government officials.
The private sector also contributes more than ten percent of fiscal revenue to the government in some districts and counties in Beijing.
Government statistics show that more than 80 percent of private enterprises and self-employed business are dealing in the service industry, but some are entering the real estate, information technology, and entertainment markets.
The private sector is considered a solution for the increasing employment pressure in the country caused by massive layoffs from loss-making state-owned enterprises.
Yet, analysts said that the private sector in Beijing still remains a fraction of the total economic structure, compared with its counterparts in Zhejiang, Fujian and Guangdong provinces in coastal areas. The private sector still needs further development and support from the government.
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