Supportive ecosystem

Xingfu town's success reflects a larger pattern. Binzhou city, which administers the town, has made private economic development a priority through reforms and an improved business environment.

In Binzhou, 90 percent of the city's enterprises are private, generating 80 percent of the tax revenue and 70 percent of the GDP.

Binzhou has implemented several initiatives to help entrepreneurs develop their businesses. A platform has helped 16,000 enterprises and 10,700 projects access 940 million yuan in subsidies. Regular talks bring government officials and entrepreneurs together to solve problems face-to-face.

"Activating innovation-driven development is essential to empowering the further growth and expansion of the private economy," said Li Chuntian, Binzhou mayor and a deputy to the 14th National People's Congress.

Binzhou has been promoting industrial progress through scientific and technological innovation, and private enterprises have played a significant role, contributing over 90 percent of the city's total investment in research and development.

Talking about the town's future in developing the private sector, Liu Dejiang said attracting skilled professionals is a challenge.

"Focus should be on the second generation of entrepreneurs and the transition to professional management, while attracting talent in research and development, digital operations, international trade and brand management," he said.

Entrepreneurs in the town are working on this. The town has partnered with multiple research institutes, undertaking over 12 provincial-level innovation projects, leading the development of several industry standards for commercial gas appliances.

zhaoruixue@chinadaily.com.cn