Jinan proposes measures to promote private economy

Jinan recently introduced a set of measures to support the growth of private enterprises.

These measures consist of five major actions and 21 policy measures that are expected to inject new momentum into the development of private enterprises.

Under the financing promotion action, an annual fund of 80 million yuan ($11 million) will be allocated to support enterprise financing. For bank loans used for productive projects or working capital, an annual 1 percent interest rate and 1 percent guarantee fee subsidy will be provided.

The market expansion action encourages leading enterprises to form industry alliances. Outstanding industry alliances will receive an annual subsidy of up to 300,000 yuan.

To facilitate the scaling up and upgrading of private enterprises, a "chief service officer" system will be established. Each enterprise will be assigned a "chief service officer" who will provide personalized and customized services, connect enterprises with resource elements and resolve operational issues.

Under the talent empowerment action, a capacity-building program for private entrepreneurs will be implemented. Training sessions and the establishment of economic and development think tanks will create an integrated platform for training, consultation and cooperation.

The optimization of the business environment will be emphasized through the implementation of the business environment improvement action. Initiatives such as the demonstration of high-quality development in the private economy and the evaluation of the business environment will be carried out to create a more relaxed, fair, and orderly business environment for private enterprises.