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Jinjiang Shining Example of Private Economy Development

source: gofujian.com.cn 2024-01-10 09:12
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Jinjiang century avenue is full of flowers. [Photo by Chen Qiaoling/WeChat ID: zhongguofazhangaige]


Jinjiang, located in Fujian province, is renowned for its abundance of private enterprises and entrepreneurs. Since the launch of reform and opening up, particularly since 2002, Jinjiang has followed a unique development path, transforming from a poor agricultural county into one of China's top four county economies.


The county's private economy is a testament to Jinjiang's progress. Zhang Wenxian, Standing Committee member of the Quanzhou Municipal Committee of Fujian province and secretary of the Jinjiang Municipal Party Committee, said that under the guidance of the "Jinjiang experience," Jinjiang's GDP soared to 320 billion yuan ($44.7 billion) in 2022, accounting for 1/16 of the province's GDP while occupying only 1/200 of its land area. Its private economy has an output of over 800 billion yuan, with over 90,000 enterprises and 51 listed companies. This sector accounts for more than 95 percent of local tax revenue, GDP, research and development, and employment.


A notable feature of the "Jinjiang experience" is its focus on the real economy. Guided by this approach, Jinjiang's own Anta brand expanded nationwide and then globally. Anta has become one of the world's leading multi-brand sporting goods groups, consistently ranking first among Chinese sporting goods enterprises in terms of revenue for the past 11 years.


Reform and innovation are the driving forces behind the "Jinjiang experience." At different stages of development, Jinjiang has implemented strategies such as a reliance on quality, scientific and technological innovation, and capital empowerment in its pursuit of urban development. These strategies provide a clear direction for industrial upgrading.


No pain, no gain. In its struggle, the market share of many of Jinjiang's products ranks first in the country.


The "Jinjiang experience" also emphasizes the importance of effective collaboration between the government and enterprises. Jinjiang has cultivated a longstanding tradition of being business-friendly, with the government making concerted efforts to support businesses and create a favorable business environment.


Jinjiang stands as a shining example of how to promote the high-quality development of the private economy, serving as a beacon for others to follow.



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