|

Jiaxing in East China's Zhejiang province had a thriving private sector in 2020, local media reported on March 24.

At the end of last year, the city was home to 603,581 market entities, a year-on-year increase of 9.1 percent.

In 2020, its number of market entities increased by 135,350, a year-on-year rise of 34.5 percent. Among them, 126,596 were involved in the service sector.

The operating revenue of private industrial companies above designated size in the city increased by just 0.1 percent year-on-year in 2020, totaling 737.26 billion yuan ($112.87 billion). This accounted for 69.59 percent of the city's total operating revenue among industrial companies above designated size.

These companies generated a combined 50.74 billion yuan in profits and tax revenue during the same year, accounting for 57.66 percent of the city's total profits and tax revenue from industrial companies above designated size.

The added value of private industrial companies above designated size in Jiaxing amounted to 132.32 billion yuan in 2020, a year-on-year increase of 4.4 percent.

The industrial added value of traditional sectors experienced a nearly double-digit decline while that of emerging industries reported a double-digit increase.

The output value of new products manufactured by private industrial companies above designated size in Jiaxing increased 2 percent year-on-year to 224.92 billion yuan last year.

In 2020, 50.71 percent of these companies had a research and development department, a year-on-year increase of 21 percent.

In addition, Jiaxing was home to 662 national high-tech companies and 1,422 provicial small and medium-sized high-tech companies as of last year.