At a recent meeting held in Shijiazhuang, several private enterprises, including Shijiazhuang Boshen Tools Co., Ltd., were honored with the title of "Top Ten Private Enterprises for Transformation and Upgrading." This recognition highlights their significant contributions to the region's economic growth through innovative strategies and transformative practices. Over the past few years, Shijiazhuang's private sector has seen remarkable progress, driven by technological advancements and forward-thinking initiatives. Remarkably, the private economy has consistently accounted for over half of the city's total economic output for six consecutive years.
This year has been particularly encouraging, as the private sector continues to thrive. From January to September, the added value of the private economy reached 214.45 billion yuan, marking a year-on-year increase of 11.7%. This impressive figure represents 65.9% of the city's overall GDP, which stands at 325.24 billion yuan. The private sector’s substantial contribution not only reflects its pivotal role in driving the local economy but also underscores its ability to sustain growth even amid challenging circumstances.
Since 2011, the private economy has consistently surpassed expectations, breaking new ground in both value creation and taxation. Last year alone, the sector surpassed the 60% threshold in terms of economic contribution, reinforcing its status as the backbone of Shijiazhuang's economy. With such achievements under its belt, the private sector remains a cornerstone of the city's prosperity, ensuring sustainable development for the future.
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