四是强化问题导向。我国持续完善促进民间投资的政策措施，但实践中的新情况新问题不断涌现，需更 具针对性的改革举措。《若干措施》以问题为靶向，为民间投资打通堵点、注入动能。例如，《若干措 施》聚焦民间投资"投"与"融"两大核心关切，双向发力。从投资端，中央预算内投资是政府撬动社会投 资的重要工具，是落实国家战略、推进中国式现代化、推动高质量发展、把握发展主动权的重要抓手， 《若干措施》提出加大中央预算内投资对符合条件民间投资项目的支持力度，用好新型政策性金融工具 支持一批符合条件的民间投资项目，补充项目资本金，将直接增强民营企业获得感，促进项目落地。从 融资端，推进民间投资高质量发展需强化金融的支撑作用，健全多层次金融服务体系，《若干措施》提 出全面准确落实普惠信贷尽职免责和不良容忍制度，持续落实好突破关键核心技术科技型企业上市融 资、并购重组"绿色通道"政策，积极支持更多符合条件的民间投资项目发行基础设施领域不动产投资信 托基金（REITs）等政策措施，并提出用好支持小微企业融资协调工具、打造国家投融资综合服务平 台，以缓解信息不对称，极大提升民间投资的积极性和便利性。 祁玉清 国家发展和改革委员会经济体制与管 ...

Core Viewpoint - The State Council has issued measures to stimulate private investment, highlighting 13 targeted policy initiatives to enhance the role of private capital in China's economic development [1][2]. Group 1: Expansion of Access - Encouragement for private capital participation in key sectors like railways and nuclear power, with specified shareholding requirements [1] - Support for private investment in smaller urban infrastructure projects with profit potential [1] - Promotion of private capital involvement in low-altitude economy and commercial space sectors [1] Group 2: Addressing Bottlenecks - Protection of private enterprises' rights in areas such as electricity grid access and oil and gas pipeline usage [2] - Support for the establishment of major pilot platforms by private enterprises to enhance industry influence [2] - Encouragement for digital empowerment initiatives for small and medium-sized enterprises (SMEs) [2] Group 3: Strengthening Support - Increased financial support for eligible private investment projects through central budget investments and new policy financial tools [3] - Banks are required to set annual service targets for private enterprises to meet their reasonable credit needs [3] - Promotion of real estate investment trusts (REITs) for private investment projects in infrastructure to enhance liquidity [3] Group 4: Quality Development - Emphasis on the need for local governments to provide better services and guidance for private investment [4] - Development of a long-term mechanism combining legal protection, policy incentives, and optimized services for private capital [4] - The measures signal a strong commitment to supporting the growth of the private economy, aiming for high-quality economic development [4]

陕西是国资国企大省，提振民营企业信心、提升民营经济占比是陕西在新形势下应变求变、推进高 质量发展的重要着力点。今年，省发展改革委制定的《促进民营经济发展的七条措施》中明确提出，力 争到今年年底，全省民营经济增加值占GDP比重不低于50%。 省统计局日前发布的前三季度陕西经济数据显示，全省民营经济增加值增至12800多亿元，占全省 生产总值的比重从上半年的49.8%提升至50%，提前实现年度目标。 陕西持续深化"三个年"活动，优化营商环境，认真贯彻落实民营经济促进法，设立省发展改革委民 营经济发展局，提振民营企业投资发展信心。省发展改革委推荐我省有代表性的民营企业参加第十六届 夏季达沃斯论坛和中国民洽会，在全国发展改革系统民营经济现场会上推介民间投资项目，组织省内民 营企业参与国家投贷联动试点，推荐民间投资项目纳入全国重点民间投资项目库，储备适合民营企业参 与的政府和社会资本合作（PPP）新机制项目，向社会公开推介适合民营企业参与的重大项目，并且连 续三年实施新开工民间投资项目贷款贴息政策，出台七条举措、打造"四个一"工作体系、实施七大行 动，着力解决政策知晓率不高、融资难、民企竞争力不强、营收规模小等问题，支 ...

Core Viewpoint - The private economy is a vital force in advancing Chinese-style modernization, demonstrating efficiency advantages over state-owned enterprises, but has shown signs of slowing growth in key economic indicators, necessitating renewed focus on its development during the 15th Five-Year Plan period [2][3]. Group 1: Employment and Income - The ability of private enterprises to absorb employment has weakened, with the number of employees in urban private enterprises growing from 29.418 million to 30.796 million, an annual growth rate of 1.15%, significantly lower than the 8.5% growth rate from 2015 to 2019 [5]. - The wage gap between private and non-private employees has widened, with average annual wages for private employees at 69,476 yuan in 2024, compared to 124,110 yuan for non-private employees, a decrease in the wage ratio from 63.8% in 2015 to 56% in 2024 [6]. Group 2: Investment Trends - Private investment growth has lagged behind national and state-owned investment, with the share of private investment dropping from 53.6% in 2020 to below 49% in 2024, and an average annual growth rate of 1.6% compared to 6.2% for state-owned investment [7]. - In the first half of 2025, private investment is projected to have decreased by 0.6%, while state-owned investment increased by 5.0%, indicating a significant disparity in growth rates [7]. Group 3: Industrial Performance - The growth rate and efficiency of the private industrial sector have declined, with state-owned industrial growth matching and surpassing that of private industries, and key efficiency indicators showing state-owned enterprises outperforming private ones [8][9]. - From 2020 to 2024, the average annual growth rate of industrial value-added was 5.3% for private industries, while state-owned industries achieved 5.1%, with state-owned enterprises also showing improved profit margins compared to private enterprises [9][10]. Group 4: Construction Sector - The share of non-state construction enterprises has decreased, with state-owned construction enterprises increasing their share from 37.4% to 43% of total construction output from 2020 to 2024, while private construction's share fell from 62% to 57% [11]. Group 5: Foreign Trade Achievements - Private enterprises have significantly contributed to foreign trade, with their annual growth rate in import and export totals at 9.9% from 2015 to 2024, compared to 4.1% for state-owned enterprises, leading to a rise in their share of total trade from 35% to 55.7% [12]. Group 6: Publicly Listed Companies - The number of private enterprises among the top 500 companies has slightly decreased from 249 in 2020 to 244 in 2024, while their revenue growth rate has outpaced that of state-owned enterprises [14][16]. - Private enterprises' net profit margin has declined from 0.63% in 2020 to 0.43% in 2024, indicating a need for improved profitability [15]. Group 7: Wealth Distribution - The number of billionaires and total wealth in China has been decreasing, with the 2024 Hurun Report showing a 12% drop in the number of individuals with wealth exceeding 5 billion yuan compared to 2023 [18]. Group 8: Recommendations for the 15th Five-Year Plan - The 15th Five-Year Plan should focus on enhancing the scale advantages of private enterprises, particularly in foreign trade, while creating a supportive policy environment to improve efficiency and effectiveness [19].

Core Insights - Zhejiang's private enterprises have shown remarkable performance, leading the nation in various rankings, including the "Top 500 Private Enterprises in China" and "Top 500 Private Manufacturing Enterprises in China" [1][2] - The private economy in Zhejiang contributes significantly to the province's overall economic output, accounting for over 67% of the GDP and 70% of tax revenue [2] Group 1: Economic Contribution - The private economy in Zhejiang represents the largest resource and advantage, contributing over 80% of exports and 85% of employment [2] - In the first half of the year, 107 companies in the "Top 500 Private Enterprises" achieved a total revenue of 9.8 trillion yuan, with an average revenue of 919.56 billion yuan, reflecting a year-on-year growth of 6.95% and 5.95% respectively [2] Group 2: Innovation and Development - Zhejiang has 47,000 high-tech enterprises and 233 national manufacturing champions, with a significant portion being private enterprises [2][3] - The province's private enterprises are leading in R&D investment, with a 5% year-on-year increase in R&D spending among large-scale industrial enterprises [3] Group 3: Government Support - Government support is crucial for the growth of private enterprises, with local authorities providing comprehensive assistance in project planning and investment [4] - The government emphasizes creating a favorable business environment and actively encourages digital and green innovation among enterprises [4] Group 4: Collaborative Development - The development of large, medium, and small private enterprises reflects the vibrant and progressive nature of Zhejiang's private economy [7] - Zhejiang is engaging in cross-regional industrial chain collaboration, including signing cooperation agreements in the Yangtze River Delta region to strengthen supply chain integration [8] Group 5: Global Integration - Zhejiang's enterprises are increasingly embedding themselves in global supply chains, transitioning from a focus on domestic resources to a global market approach [8] - The recent participation of Zhejiang companies in international trade fairs indicates a growing trend towards global resource integration and high-level overseas project layouts [8]

Core Insights - China's total goods trade import and export value reached 37.31 trillion yuan in the first ten months of the year, showing a year-on-year growth of 3.6% [1] - Trade with countries involved in the Belt and Road Initiative amounted to 19.28 trillion yuan, up 5.9%, accounting for 51.7% of China's total foreign trade [1] - Private enterprises contributed 21.28 trillion yuan to imports and exports, reflecting a year-on-year increase of 7.2% [1] Group 1: Import Market Performance - China's import market has shown significant characteristics of continuous monthly recovery, steady expansion in quantity, and structural optimization [2] - Imports have increased for five consecutive months, contributing to a steady rise in cumulative import growth [2] - The ongoing China International Import Expo in Shanghai highlights the country's commitment to opening its large-scale market to global businesses [2] Group 2: Private Enterprises in Shanghai - Private enterprises in Shanghai have seen import and export growth rates exceeding 30% each month from June to September [4] - This growth rate is significantly higher than the national average of 8% in September, indicating that Shanghai's private enterprises are a driving force in foreign trade [4] - Over 80% of high-tech and specialized "little giant" enterprises in Shanghai are private, showcasing strong technological capabilities [4] Group 3: Export Dynamics - High-end manufacturing in Shanghai, including exports of "new three items" and industrial robots, has maintained rapid growth [4] - The small appliance sector, a key manufacturing industry in China, has consistently shown growth in export value due to strong innovation capabilities [4] - Emerging product categories like electric toothbrushes and electric scooters face classification challenges in international markets, impacting export processes [6] Group 4: Policy and Regulatory Support - Shanghai has implemented the "Shanghai Private Economy Promotion Regulations" to optimize the business environment for private enterprises [8] - The regulations aim to eliminate hidden market entry barriers and ensure fair competition, providing a solid foundation for private enterprise development [8] - The synergy between technological breakthroughs, supportive government policies, and logistical advantages has propelled the export growth of private enterprises [8] Group 5: APEC Trade Relations - In the first ten months, trade with APEC economies accounted for 57.8% of China's total foreign trade, amounting to 21.58 trillion yuan, with a growth of 1.5% [14] - Trade with South Korea reached 1.93 trillion yuan, reflecting a growth of 1.2% [14] Group 6: Technological Innovation in Exports - A microelectronics company in Shandong has achieved significant production efficiency, manufacturing smart sensor products rapidly for international markets [10] - The company plans to invest 326 million yuan in R&D in 2024, with exports of smart sensors from Qingdao increasing by over 100% year-on-year [12] - The overall export value of electronic components has seen double-digit growth, driven by technological advancements [12]

工业"压舱"、消费主引擎、民营经济更大作为……这是山东16市推动前三季度经济社会运行稳定向好 的"支撑力"。 近日，山东16市陆续发布了前三季度经济社会运行情况。对比前三季度全省地区生产总值5.6%的增 速，烟台、威海、泰安等7市增速超过了"平均线"，淄博、聊城2市增速与全省"持平"。 青岛、济南、烟台、潍坊"四强"经济地位不可撼动，是全省稳经济的"基本盘"，其中烟台保持全省经济 增速首位；临沂、济宁等经济大市也正奋力追赶，均提到工业过万亿的目标；菏泽、滨州、聊城等市继 续保持稳中有进的态势，为《突破菏泽鲁西崛起三年行动计划》收官奠定了基础；枣庄自2022年首季度 以来，经济增速保持着对同期全省均速的稳超，进一步提升山东争先进位经济体量"门槛"，全域拼经济 推动山东为全国经济大局多做贡献。 不过，数据上的表现并不能完全体现城市发展成色如何，增长波动考验着众多城市的发展韧性。在进一 步全面深化改革、加快培育新质生产力的当下，"守好实体经济这个根基"为稳经济"护航"，向内挖潜做 好消费大文章等成为城市向好发展的关键增量。 工业"压舱"，大市挑大梁 近年来，山东创造性谋划实施工业经济"头号工程"，高标准推动先进制造 ...

Core Insights - The "2025 Sichuan Top 100 Private Enterprises" list was released, with Tongwei Group ranking first for the first time [1] - Significant changes in rankings were noted compared to the 2024 list, with Tongwei Group's revenue exceeding 240 billion yuan, moving up one position [1][2] - The threshold for entry into the list was set at 3.945 billion yuan, an increase of nearly 200 million yuan from the previous year [2] Group 1: Rankings and Revenue - The top 10 companies in the 2025 list include Tongwei Group, Qiya Group, New Hope Liuhe, Sichuan Chuanwei Group, and others [1] - The total revenue of private enterprises reached 1.74 trillion yuan, with 61 companies experiencing revenue growth [2] - The net profit of private enterprises totaled 52.04 billion yuan, with 43 companies increasing their net profit [2] Group 2: Manufacturing Sector - Manufacturing is the main support for the top 100 enterprises, with 73 companies in this sector, contributing 1.39 trillion yuan in revenue, accounting for 80.3% of the total [5] - The total assets of manufacturing enterprises also reached 1.39 trillion yuan, representing 79.3% of the total, with a significant increase of 16.4% from the previous year [5] - Tax contributions from manufacturing enterprises amounted to 45.668 billion yuan, making up 83.4% of the total [5] Group 3: Additional Rankings - The top 10 companies in the 2025 Sichuan Manufacturing Private Enterprises list mirror the top 10 of the overall list [5] - The top 10 companies in the 2025 Sichuan Service Industry Private Enterprises list include Chengdu JD Century Trading and others [6] - The top 10 companies in the 2025 Sichuan Private Enterprises R&D Investment list feature Tongwei Group and several pharmaceutical companies [6] Group 4: Economic Impact - Sichuan's GDP ranked fifth nationally, with the private economy contributing significantly, accounting for 56.4% of the total economic output [7] - The added value of the private economy reached 3.646 trillion yuan, reflecting a slight increase from the previous year [7]

Group 1 - Shenzhen is recognized as a leading "entrepreneur-friendly city" in China, often referred to as the "ceiling for enterprises" [1] - The city established the first official "Entrepreneur Day" in the country, celebrated annually on November 1 since 2019, highlighting its commitment to supporting entrepreneurs [2] - During this year's "Entrepreneur Day," Shenzhen awarded 60 business leaders the title of "Outstanding Builders of Socialism with Chinese Characteristics in Non-Public Economy" and recognized 30 companies with the "Shenzhen Contribution Award" [2][5] Group 2 - The list of awardees includes prominent figures from various industries, such as technology, finance, and manufacturing, showcasing a diverse representation of Shenzhen's business landscape [3][4] - Shenzhen's private economy is significant, with over 2.7 million private enterprises as of June 2025, contributing approximately 40% of fixed asset investment, over 50% of tax revenue, nearly 60% of GDP, and over 70% of import and export volume [6] - The city is home to 10 companies listed in the 2025 Fortune Global 500, indicating its strong economic presence and the prominence of private enterprises [6] Group 3 - Shenzhen's success as a hub for entrepreneurs is attributed to its innovative policies and a culture that encourages risk-taking and supports failure [8][10] - The city has a well-developed industrial chain and an active capital market, which further enhances its attractiveness for business development [10] - The inclusive spirit of Shenzhen, encapsulated in the phrase "Once you come, you are a Shenzhen person," draws talent from across the country [9]

Core Insights - Shanghai's economy shows strong growth in key industries, with the three leading sectors (integrated circuits, artificial intelligence, and biomedicine) growing by 8.5% in the first three quarters, and their manufacturing output accounting for 12.3% of the city's industrial output, an increase of 0.6 percentage points from 2024 [1] - The city's industrial investment has increased significantly, with a year-on-year growth of 20.3% from January to September, surpassing the national average of 13.9% [3] - The private sector is thriving, with private industrial output growing by 8.7%, outpacing the overall growth rate by 3 percentage points [2] Economic Performance - The three leading industries in Shanghai (integrated circuits, AI, and biomedicine) collectively exported 193.67 billion yuan, marking a growth of 10.3% [1] - The new energy sector, new generation information technology, and high-end equipment manufacturing continue to show double-digit growth rates of 19.6%, 10.9%, and 10.3% respectively [1] - The automotive industry in Shanghai achieved an output value of 522.5 billion yuan, with a comparable growth of 11.8%, representing 17.7% of the city's total industrial output [4] Investment Trends - Strategic emerging industries saw a 25.8% increase in investment, with new generation information technology, new energy vehicles, and high-end equipment manufacturing growing by 41.8%, 10.2%, and 8% respectively [3] - A total of 1,800 industrial projects were launched in the first three quarters, with a planned total investment of approximately 500 billion yuan [4] - Fixed asset investment in the software and information technology sector grew by 21.1%, significantly higher than the city's average of 6% [6] Sector Developments - The software and information technology industry in Shanghai achieved an added value of 527.743 billion yuan, growing by 15.5%, which is faster than the national average of 11.2% [5] - The automotive sector is seeing significant developments, with Tesla's Shanghai factory achieving a record delivery of 91,000 vehicles in September 2025 [5] - The shipbuilding industry is also progressing, with major companies delivering 43 new ships and holding over 270 orders, with a focus on high-value and environmentally friendly vessels [5]