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Jinjiang's experience fuels high-quality development of private economy

chinadaily.com.cn | Updated: 2022-08-22

Jinjiang, a city under Quanzhou's jurisdiction and located in the southeast coastal region of Fujian province, has been focusing on a market-oriented and export-oriented economy, and a shareholding cooperative system, as well as mutual development of various economic sectors in the past 20 years.

Starting from organizing spare houses, capital, and workers since the revolution and opening-up, Jinjiang has been firmly developing the real economy, and promoting the integration of industries and workers through innovation, to set a county-wide overall development example.

Twenty years ago, Anta was a company with an annual output value of less than 2 billion yuan ($295.12 million).

Over the past 20 years, Anta has developed from a company with less than a 2 billion yuan ($295.12 million) annual output value to a sports wear giant with an annual output value of 20.8 billion yuan in 2021, said Li Ling, vice-president of Anta.

Anta's development and success is due to Jinjiang's economic development philosophy, or the "Jinjiang experience", Li said.

Under the guidance of the "Jinjiang experience", its private economy and real economy have developed rapidly and have helped a slew of leading private companies and brand companies grow in both domestic and international markets over the past 20 years.

Jinjiang's gross domestic product (GDP) increased from 27.7 billion yuan to 298.6 billion yuan over the past 20 years, with an average annual growth rate of 11.6 percent.

Influenced by the "Jinjiang experience", the surrounding counties in Quanzhou, including Nan'an, Shishi, Huian, and Anxi have made breakthroughs in economic development and boosted Quanzhou's real economy.

As a result, Quanzhou's GDP increased from 108.1 billion yuan in 2002 to 1.13 trillion yuan in 2021. Currently, its five counties – Jinjiang, Shishi, Nan'an, Huian, and Anxi are listed among the top 100 counties nationwide.

Innovation is a driving force behind ceaseless development, which is also an important part of the "Jinjiang experience".

Fujian's private companies account for 70 percent of the province's sci-tech achievements and own over 80 percent of the sci-tech centers in the province.

In addition to sticking to the real economy, the "Jinjiang experience" encourages, supports, and guides private companies to strengthen sci-tech innovation, attract more talents, and speed up sci-tech achievement transformation in order to improve the companies' independent innovation abilities and competitiveness in the new economic situation.

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