Private economy in Taicang posts steady growth

The private economy in Taicang, a county-level city in Suzhou, Jiangsu province, posted steady growth in 2018, data from Bureau of Industry and Information Technology of Taicang show.

The total output value of private economy in the city recorded 121.92 billion yuan ($18.19 billion) last year, a year-on-year increase of 1.72 percent.

Private businesses above designated size grossed 118.8 billion yuan from their core operations, up by 10.15 percent year-on-year and their rate of produce and sale surged 7.46 percent year-on-year to 97.45 percent.

Of the 104 key private companies in Taicang, 83 industrial companies' output value stood at 42 billion yuan, an increase of 5.2 percent year-on-year and they netted 2.2 billion yuan, a 9.41 percent increase year-on-year.

The output value of 36 private industrial businesses registered double-digit growth in 2018, including Suzhou U-air Environmental Technology Co and Suzhou Greentech Material Co.