The private economy of Zhanjiang contributes more than 50 percent of the city's tax revenue, creates more than 60 percent of its regional GDP and more than 70 percent of its innovation achievements, and provides more than 80 percent of its market players and urban jobs. The sector thus makes great contributions to Zhanjiang's economic and social development.

In the first three quarters of 2019, the added value of the private economy reached 140.67 billion yuan ($20.19 billion), a year-on-year increase of 5.9 percent, and accounted for 63 percent of the city's GDP. It is expected that the annual added value of the private economy in 2019 will exceed 200 billion yuan, a year-on-year increase of about 5 percent. In addition, the number of private industrial enterprises above designated size is expected to exceed 800, about 90 percent of the city's total.

In the first three quarters of last year, the total added value of the private industry was 39.56 billion yuan, a year-on-year increase of 5.1 percent, and the total tax revenue of the private economy exceeded 36.93 billion yuan, a year-on-year increase of 21.4 percent.

At present, the number of people employed by the private economy has reached 1.12 million, accounting for more than one third of the city's total, of whom 337,500 are company employees and 544,400 are self-employed.

Workers on the production line of a private enterprise [Photo by Liu Jicheng/gdzjdaily.com.cn]