(Photo/CFP)

Jiangsu has implemented various policies to boost the growth of its private sector, which in 2024 accounted for 58.2% of the provincial GDP, totaling 7.98 trillion yuan, and comprised 45.3% of the province's total foreign trade.

Among these measures, in 2023, the provincial Development and Reform Commission issued guidelines to further improve the policy environment and enhance support for private investment, such as in industries and fields not explicitly prohibited by laws and regulations.

In 2024, private enterprises in Jiangsu were, for the first time, allowed to take up to 10% of shares in nuclear power projects. The province also released investment guides in seven key areas, including transportation, clean energy, and healthcare.

Statistics show that private investment accounted for 66.1% of the total in 2024, positioning the province first in the country. Additionally, 89 Jiangsu companies made it onto the list of top 500 Chinese private enterprises.

Qi Yusong, deputy director of the Development and Reform Commission, said that private investment are also welcomed to participate in major resource projects like offshore wind power.

Furthermore, the Jiangsu People's Congress and the provincial government have prioritized the enactment of the private sector promotion regulation this year.