By this August, Qingdao has 973,100 existing private business entities, a year-on-year growth of 16.92%, accounting for 96.99% of all entities in Qingdao, according to the Qingdao Municipal Industry and Commerce Bureau, registered capital of newly registered companies reached CNY 249.601 billion, a year-on-year growth of 85.61%. Private companies play a main role in multiple areas such as industrial production, foreign trade and export, and scientific innovation.

    Statistics shows that private economy has already become the main body of creating economic development new advantage of Qingdao.

    Capital volume surges while private business entities increase. From this January to August, registered capital of newly registered private companies of Qingdao reached CNY 249.601 billion, a year-on-year growth of 85.61%, accounting for 83.52% of all registered capital of all newly registered private companies.

    The structure of listed Qingdao companies also shows the strength of Qingdao private companies. By the end of this August, Qingdao has 129 listed companies (42 stock market listed companies, 87 NEEQ listed companies). Among them, 115 are private companies (29 stock market listed companies, 86 NEEQ listed companies), accounting for 89.1% of all.

    The growing strength of private companies enables private companies to obtain leading role in industry production. In the 1st half of 2016, among all mid-and-large companies of Qingdao, private companies achieved CNY 376.03 billion revenue, accounting for 46.9% of all; they achieved CNY 78.16 billion added values, growth rate reaches 7.9%, it contributes 53.9% of Qingdao economic growth. Private companies also perform well in foreign trade and export, in the 1st half of 2016, Qingdao export reaches CNY 130.26 billion, 0.2% more than 2015.

    Private companies also constantly enhance their innovation ability, by the end of 1st half of 2016, 95% of Qingdao new high-tech companies are private companies, mid-and-small new high-tech company accounts for 88.17% of all, a year-on-year growth of 35.14%. The R&D cost spent by mid-and-large private companies accounts for 24.41% of all mid-and-large companies.