In the first three quarters of 2023, the private enterprises contributed 80 percent to the growth of provincial industrial added value from enterprises above the designated size in the first three quarters of 2023.

The province's overall industrial added value rose by 7.8 percent, with private enterprises outpacing the average, achieving an 8.6 percent growth rate.

Zhejiang's total imports and exports accounted for 12.2 percent of the national total, with exports and imports at 15.7 percent and 7.4 percent, respectively, ranking Zhejiang 3rd, 2nd, and 5th nationwide.

Private companies played a central role, generating 3.17 trillion yuan ($440 billion) in trade, a 7.3 percent increase, and comprising 80.7 percent of the province's total trade volume. Their contribution to trade growth was 87.8 percent.

Of the province's 110,000 export-import businesses, 103,945 were private enterprises, accounting for over 90 percent of the total. Zhejiang also reported 830,000 new businesses and individual entrepreneurs registered in the first half of the year, bringing the total registered business entities to 10.65 million, up 7.6 percent year-on-year, with private enterprises making up the vast majority.