{"id":12011,"date":"2018-11-17T09:05:23","date_gmt":"2018-11-17T17:05:23","guid":{"rendered":"https:\/\/lapost.us\/?p=12011"},"modified":"2018-11-18T09:09:32","modified_gmt":"2018-11-18T17:09:32","slug":"shanghai-to-create-better-environment-for-privately-owned-companies-2","status":"publish","type":"post","link":"https:\/\/lapost.us\/?p=12011","title":{"rendered":"Shanghai to create better environment for privately-owned companies"},"content":{"rendered":"

By Liu Shi’an and Li Hongbing\u00a0People’s Daily app<\/p>\n

Shanghai mayor Ying Yong has pledged support to private enterprises, and introduced several measures to boost the healthy development of the private sector.<\/p>\n

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(Photo: VCG)<\/p>\n

Private enterprises are an irreplaceable driving force of economic and social development in the country’s financial and business center, Ying told the People\u2019s Daily in an interview.<\/p>\n

They contribute to one-fourth of gross domestic product, one-fifth of foreign trade, and one-third of tax revenue. In addition, the private sector creates over 70 percent of new jobs in Shanghai, Ying added.<\/p>\n

Private companies have become the major force in technological innovation. More than 90 percent of Shanghai\u2019s technology companies are privately-owned.<\/p>\n

They also inject vitality into the market, Ying said. This year, about 1,332 new companies were registered per working day in Shanghai, about 96.4 percent of which were private companies.<\/p>\n

The mayor said Shanghai treats State-owned, privately-owned and foreign-owned companies equally and promotes coexistence among them.<\/p>\n

He disclosed that Shanghai has rolled out a series of measures to support the private sector. Local authorities have launched a 10-billion-yuan ($1.4 billion) fund to make financing easier and less expensive for private companies, Ying said.<\/p>\n

The city will also offer 10 billion yuan in credit and secured loans and another 10 billion yuan in guaranteed funds for small and medium private businesses, he added.<\/p>\n

In addition, the local government will reduce taxes, land use costs and other costs to support private companies.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

By Liu Shi’an and Li Hongbing\u00a0People’s...<\/p>\n","protected":false},"author":1,"featured_media":12012,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-12011","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-china"],"_links":{"self":[{"href":"https:\/\/lapost.us\/index.php?rest_route=\/wp\/v2\/posts\/12011","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lapost.us\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lapost.us\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lapost.us\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lapost.us\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=12011"}],"version-history":[{"count":1,"href":"https:\/\/lapost.us\/index.php?rest_route=\/wp\/v2\/posts\/12011\/revisions"}],"predecessor-version":[{"id":12013,"href":"https:\/\/lapost.us\/index.php?rest_route=\/wp\/v2\/posts\/12011\/revisions\/12013"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lapost.us\/index.php?rest_route=\/wp\/v2\/media\/12012"}],"wp:attachment":[{"href":"https:\/\/lapost.us\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12011"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lapost.us\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12011"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lapost.us\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12011"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}