Luo Weidong, a member of the National Committee of the Chinese People's Political Consultative Conference (CPPCC) and professor at the School of Economics of Zhejiang University. [Photo/Tide News]

During this year's two sessions, Luo Weidong, a member of the National Committee of the Chinese People's Political Consultative Conference (CPPCC) and professor at the School of Economics of Zhejiang University, focused his attention on market entities.

According to data released by the Zhejiang Provincial Bureau of Statistics in Jan 2024, the number of registered market entities exceeded 10.34 million by the end of 2023, an increase of 9.6 percent compared to the previous year. Among them, there were 10.01 million private enterprises and individual businesses.

"In Zhejiang, individual businesses and small and micro enterprises are involved in many industries closely related to people's livelihoods, such as the service and catering industries. They are not only important in residents' daily lives but also play a crucial role in stabilizing growth and employment," said Luo.

In Luo's view, the development of individual businesses and small and micro enterprises is not only an economic issue but also part of the urban landscape.

He pointed out that compared to large enterprises, these market entities often find it difficult to articulate their demands when facing difficulties.  He said that the government should actively conduct research to promote high-quality economic development.