Workers work on an assembly line at a shoe factory in Quanzhou, East China's Fujian province on January 13, 2022. Photo: VCG

Fujian Province, positioned as a manufacturing and digital hub in East China, is ramping up efforts to boost local businesses, to be supported by government initiatives as it pushes into an era of high-quality development, provincial officials said during a press conference held at the State Council Information Office on Monday.

Fujian is a major province for private businesses in China. In Fujian, the private economy accounts for 90 percent of all business entities in the province, contributing approximately 70 percent of its economic output, over 70 percent of tax revenue, some 70 percent of technological innovation achievements, over 80 percent of local employment, Guo Ningning, vice governor of Fujian, said.

Globally, one out of every three pieces of automotive glass comes from Fujian, and one out of every five pairs of sport shoes is also "Made in Fujian," Guo said. Additionally, the province holds the top market share in the global new-energy vehicle battery market.

Jinjiang city has been a good example of how the province is supporting private economic development. Zhao Long, governor of Fujian, said at the press conference that in today's Jinjiang, on average, there is one entrepreneur for every seven people.

Despite Jinjiang's land area accounting for only a small slice of the entire province of Fujian, it generates one 16th of the province's total economic output, making it a well-known hub for brands both domestically and internationally, Zhao noted.

Many popular brands such as Anta Sports and enterprises like Panpan Foods all hail from Jinjiang. Without reforms and opening-up policies, the developmental achievements of Jinjiang today would be unimaginable, Zhao added.

With the robust development of private companies, the province has seen the acceleration in the development of its modern industrial system. For example, the province is now home to 38 out of 41 major industrial categories. The proportion of value-added manufacturing in GDP ranks fourth nationwide, according to the press conference.

The scale of pillar industries, such as advanced equipment manufacturing and modern textile and apparel making has surpassed trillions of yuan in output value. Leading enterprises like CATL and Fuyao Glass based in the province, now enjoy a global reputation.

Building upon these accomplishments, the province is committed to fostering a world class business environment by upholding the principles of market, rule of law as well as globalization, said Guo. 

Among all the measures, the provincial government pledged to persist in promoting fair competition among all market entities, safeguarding the property rights of private enterprises, and protecting the rights and interests of all entrepreneurs in accordance with the law, according to Guo.

Global Times