The fourth Chinese Private Enterprise Summit, the largest of its
kind in China, opened Saturday in east China's Zhejiang Province.
More than 3,000 private entrepreneurs both at home and abroad
attended the two-day summit held in Hangzhou, the provincial
capital.
With the theme of "Innovation, Credibility and Harmony", the
summit had a series of forums on innovation, real estate
development and Chinese private entrepreneurs.
"Weakness in innovation and enterprise management now hinder the
development of private enterprises in China," said Jiang Zhenghua, vice-chairman of the National
People's Congress Standing Committee, China's top legislature, at
the opening ceremony.
Chinese private enterprises should make use of the opportunities
in globalization and nurture their own brands on the basis of good
management, he said.
The summit was sponsored by the Private Economic Studies Center
under the Chinese Academy of Social Sciences, Zhejiang Provincial
Administration for Industry and Commerce, and Zhejiang Private
(Non-Governmental) Enterprises' Association.
A key sector in the province's economy, private enterprises hold
90 percent of jobs and 70 percent of the gross domestic product in
Zhejiang.
(Xinhua News Agency November 5, 2006)