Jinhua in Zhejiang province released an action plan aimed at strengthening its private economy on Nov 2, according to local media reports.
According to the plan, private enterprises should account for 75 percent of the city's GDP and investment by private companies should account for more than 60 percent of its total fixed asset investment by 2025.
The plan consists of 35 policies related to more than 30 government agencies, including the commerce bureau and marketing supervision.
The plan is aimed at providing support to Jinhua's pillar industries, such as the advanced manufacturing and film and TV culture industries, by improving its logistics systems and establishing modern industrial systems.
Authorities will also provide up to 80 percent of subsidies to private companies that attend overseas exhibitions in countries involved in the Belt and Road Initiative, emerging markets, and the United States.
