Taiyuan Moves to Boost Private Sector

Taiyuan, capital of North China's Shanxi province, recently issued a circular to boost the local private sector of the economy this year.

The city will guide individual industrial and commercial households to upgrade to enterprises and micro, small, and medium-sized enterprises to standardize shareholding system transformation, help private enterprises be listed, and evaluate small and medium-sized technology-based enterprises.

It will implement new combined tax and fee reduction policies, help private enterprises stay up to date on various preferential policies, and promote the recovery and development of the wholesale and retail, catering, accommodation, cultural tourism, express delivery and logistics industries. 

The construction of private economic projects will be advanced as well, and full-process tracking and services for project negotiation, contract signing, construction and production will be given to the 158 investment projects by private enterprises.

In addition, Taiyuan plans to further reform the integrated operation of government financing guarantee institutions so as to optimize financing guarantee services for the private sector. 

It will give full play to the role of municipal industrial investment funds and special funds for industrial technological transformation and technology, and increase support for private enterprises in industries such as new materials, the internet, big data, artificial intelligence, hydrogen energy, and geothermal energy.