Changsha held a conference on November 1 to celebrate the 70th anniversary of the founding of the Changsha Municipal Federation of Industry and Commerce. In four chapters, namely, Confidence, Faith, Trust and Belief, the conference reviewed the eventful years, promoted the entrepreneurial spirit, demonstrated the responsibility and demeanor of Changsha entrepreneurs, and mapped out a bright future.
The decade since the 18th CPC National Congress has witnessed the most rapid and striking development of Changsha's private economy. Ten years ago, the total number of market entities in the city was about 440,000, and the number of enterprises was less than 100,000. Now the two figures reach 1,527,000 and 567,000 respectively, a more than two-fold and four-fold increase over the past ten years. Private enterprises contribute more than 60% of the city's GDP and over 58% of the city's tax revenue and provide more than 80% of jobs. They account for 97.98% of the city's total market entities.
Last year, Changsha's GDP exceeded 1.3 trillion yuan, ranking sixth among provincial capitals in China. The added value of Changsha's private economy rose 7.5% over the previous year to 857.989 billion yuan, making up 64.7% of the city's GDP.
Over the past 70 years, private enterprises in Changsha have grown from small to large, from weak to strong, and from "ordinary presence" to "strong support". Outstanding private entrepreneurs from all walks of life including Liang Wengen, Zhou Qunfei, He Qinghua, and Tang Yue have emerged. Sany and Sunward have become leaders in the global construction machinery industry. Truking has broken the international monopoly on high-end pharmaceutical equipment, making Changsha-made anti-epidemic pharmaceutical equipment a reality. Bichamp new material products are exported to middle and high-end markets in Europe and America, writing down a legend about Changsha in the global saw industry. New consumption enterprises such as Wenheyou, Chayan Yuese, and Hey Hey Black lead the fashion consumption of young people. The Yuan Longping High-tech Agriculture Co., Ltd. acquired Dow AgroSciences in Brazil, and many other private enterprises in Changsha "go global".
A total of 555 private enterprises in Changsha participated in targeted poverty alleviation. A total of 1,111 assistance projects with a total investment of 412 million yuan have been implemented, benefiting 37,900 poverty-stricken people. More than 100 million yuan has been raised for public welfare undertakings involving education and rural revitalization.
Source: en.changsha.gov.cn
