Jiaxing in East China's Zhejiang province published 27 measures to support the development of local private companies, Jiaxing Daily reported on June 15.

The measures include improving the business environment, guaranteeing land use, alleviating economic burdens, facilitating financing, encouraging innovative development, protecting legitimate rights, and improving service systems for private companies.

The government is encouraging private capital to invest in medical treatment, transportation, water conservation projects, and municipal public utilities.

Governments at all levels in Jiaxing will help satisfy the land use demands of private companies whose leased factory output value exceeds 100 million yuan ($14.13 million) and annual tax payments exceed 5 million yuan.

Industrial and commercial companies whose annual electricity consumption is more than one million degrees or maximum power consumption per month is more than 100,000 degrees are encouraged to trade directly with power generation companies.

Banks are encouraged to extend loan periods for private companies in a way of no repayment to renew a loan, revolving loan, or medium-term working capital loan to better align with the production cycle of private companies.

Financial institutions are encouraged to formulate handling procedures and set a time limit for no repayment to renew a loan in a bid to reduce the cost of small and micro-sized companies in relending and renewing loans.

Jiaxing will promote the share reform of private companies and encourage them to go public. Private companies are also encouraged to issue debt financing instruments and corporate bonds.

The city will establish a system to protect the intellectual property (IP) rights of private companies and punish dishonest companies and also explore the establishment of an IP protection center.

Private companies are encouraged to apply for patent rights via the Patent Cooperation Treaty and for a trademark via the Madrid International Trademark Registration in a bid to improve their overseas rights-protection awareness.