New policy measures to boost Quanzhou's private enterprises

Quanzhou will introduce a series of policy measures, including incentives for scientific and technological innovation, to support private enterprises as the city targets about 5.5 percent GDP growth this year, Mayor Cai Zhansheng said in an interview with China Daily.

An economic powerhouse in Fujian province, Quanzhou's total economic output surpassed 1.3 trillion yuan ($179 billion) last year, growing 6.5 percent from the previous year.

Private enterprises, which make up 90 percent of all businesses in the city, contributed 70 percent of tax revenue, 80 percent of GDP, 90 percent of technological innovation achievements and 90 percent of urban employment.