Public, private sectors in Linyi join forces for growth

The Third Linyi Entrepreneurs Convention, the city's first major economic gathering of the Year of the Horse, began on Feb 25. It brought together local government officials and business leaders to celebrate this pivotal moment for Linyi's private sector. The convention shows that public-private partnership forms the strong foundation for Linyi's future.

The numbers tell the story of Linyi's development heavily relying on private enterprise, with 1.56 million market entities operating in the city. Thirteen flagship industry value chains and two billion-yuan ($146.23 billion) clusters drive the economy.

Four key trends from last year have reshaped Linyi's business landscape. Companies have scaled up, with two local firms among China's top 500 private enterprises. Innovation is rising fast, exemplified by Yongfeng Group's global debut of a fully digital steel plant and over 2,000 high-tech enterprises. Global expansion has surged, with exports from firms above a designated size growing by 16.1 percent. Government services are shifting from reactive to proactive, fostering a more supportive environment for local businesses.

The city also announced 20 concrete measures to address business pain points, including no less than 18 billion yuan in new industrial loans, a 10 billion yuan industrial investment fund, and over 300 overseas trade events throughout the year. These initiatives aim to transform Linyi's private sector into a global competitor.

Editor：Lotus