The Quzhou municipal people's government issued 42 measures for promoting the development of the private economy in Quzhou on Oct 22.

The measures are meant to strengthen guarantees, support entrepreneurship and innovation, help enterprises improve quality and efficiency, break market barriers, and optimize enterprise-related services, aiming to improve the development environment for private enterprises.

For example, to strengthen guarantees, the city issued 12 related measures, including tax and fee reductions and strengthening guarantees for capital, land use, energy consumption, talent introduction, and employment.

From 2023 to 2025, the city's private economic entities are expected to enjoy 5 billion yuan ($684.32 million) in preferential tax and fee reductions annually.

To help enterprises improve quality and efficiency, the city implemented nine measures to encourage them to expand their operations, promote technological transformation and digital transformation, and go public.

Twelve measures were issued to optimize enterprise-related services, including reforming government services and improving supervision and law enforcement.