A symposium especially for private sector representatives was convened on Feb 5 in Fuzhou, capital of East China's Fujian province.

Zhou Zuyi, secretary of the CPC Fujian Provincial Committee, highlighted the importance of implementing the province's strategy for strengthening the private economy in the new era to drive high-quality development.

During the symposium, 18 private sector entrepreneurs shared insights and their recommendations in various areas.

Drawing on their own experiences in business development, they proposed ideas for promoting the deep integration of technological and industrial innovation, supporting private enterprises in research and development, as well as driving consumer upgrades through innovation and more.

Currently, Fujian's private sector contributes significantly to the economy. It accounts for around 70 percent of the province's GDP and tax revenue, more than 70 percent of its scientific and technological innovations, 80 percent of its urban labor employment and 94 percent of its enterprises.

Through the implementation of the strategy of strengthening the private economy in the new era, the innovative development of the "Jinjiang Experience", Fujian has provided invaluable experience for the development of the private economy in the country.

Zhou urged all levels and departments in the province to focus on creating a top-flight business environment. Addressing prominent issues such as market access, investment challenges, innovation barriers and administrative hurdles, he emphasized the importance of policies and measures guided by the needs and feedback of enterprises.

The private sector is a wellspring of innovation. Zhou outlined four areas where private entrepreneurs should strive to lead: Promoting the deep integration of technological and industrial innovation, driving comprehensive reforms and high-level opening up, advancing regional and urban-rural integration and enhancing Fujian’s cultural influence.