Core Insights - The private economy in Hainan is a vital force driving high-quality development and innovation, contributing significantly to the province's GDP and employment [2][4][5] Group 1: Private Sector Contributions - Hainan has 3.6241 million business entities, with 97.44% being privately owned, highlighting the dominance of the private sector [2][4] - The private economy contributes nearly 60% of the province's GDP, over 90% of employment, and more than 90% of high-tech enterprises [4] - In the first three quarters of 2025, the private economy achieved an added value of 338.63 billion yuan, a year-on-year increase of 4.2% [4] Group 2: Policy Support and Innovation - The introduction of policies such as "zero tariff" for self-used production equipment has enhanced the international competitiveness of local companies like Hainan Xiangtai Fisheries [3][6] - The "Hainan Free Trade Port Promotion of Private Economy Development Regulations" ensures equal rights and opportunities for private enterprises, fostering a fair competitive environment [6] - Companies like Qilu Pharmaceutical have leveraged policy advantages to drive innovation, resulting in significant growth in production value from 1.961 billion yuan in 2018 to 4.023 billion yuan in 2024 [9] Group 3: Investment and Economic Environment - Hainan is actively attracting investment from major industry players, with 42 cooperative projects signed at a recent policy promotion event [10] - The province has established a comprehensive support system for small and micro enterprises, addressing financing challenges and enhancing the business environment [12][13] - The upcoming full closure of the Hainan Free Trade Port is expected to strengthen connections with global markets, expanding opportunities for the private economy [11][14]