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.
(For more biz stories, please visit Industry Updates)