A conference on investment promotion and the private sector was held in Chongchuan district, Nantong, Jiangsu province on March 30.

This year, the district has set a higher goal for promoting investment and the development of the private sector. Its GDP is expected to exceed 100 billion yuan ($14.12 billion) and it hopes to rank first among districts in central cities in the Yangtze River Delta region in terms of high-quality development.

According to Liu Hao, secretary of the district's Party committee, the private sector plays a significant role in local economic development. Around 44,000 private enterprises currently operate in the district and contribute over 50 percent of the district's total GDP and over 70 percent of tax revenue.

Jiangsu Jingyuan Environmental Protection Co recently become the city's first private enterprise to be listed on the sci-tech innovation board (STAR market), and a project funded by Jiangsu Haihong Construction Engineering Co was honored with the National Prize for Progress in Science and Technology, marking a step forward for the development of the district's private sector.

Zhang Tao, general manager of Suzhou E-rising Electrical Technology Co, said that the company has decided to set up a branch in Chongchuan district due to the district's favorable business environment. The district has provided efficient services even amid the outbreak of novel coronavirus.

During the conference, a number of outstanding local enterprises were awarded for their important contributions to the district's development.

Outstanding enterprises in Chongchuan district, Nantong are honored for their contributions to the district's economic development on March 30. [Photo/WeChat account: chongchuanonline]