Nearly 1,000 private entrepreneurs and CEOs of financial institutions attended the private economic development conference held Monday morning by the Nanjing Municipal Party Committee and Municipal Government.
Outstanding private entrepreneurs were commended at the conference.
The opinions on the support of the healthy development of the private economy were released at the conference in a bid to help the private sector reduce tax burdens and tackle financing difficulties.
The new measures include the establishment of a private enterprise bail-out and development fund with a total scale of 10 billion yuan, the establishment of a private enterprise transfer loan fund with an annual transfer loan scale of over 20 billion yuan, and the transfer of 20 billion yuan of financial funds to guide financial institutions to increase credit supply, the launch of a 500-billion-yuan landmark sub-fund and the establishment of a venture loan program that can incite a bank loan of 50 billion yuan.
As of the end of the third quarter of this year, the added value of Nanjing's private economy reached 432.8 billion yuan, accounting for half of the city’s total GDP. 223 companies had been listed on the New Third Board and the 20,000 science and technology enterprises were registered in the private sector.
(Source: ourjiangsu.com)
