On a bustling afternoon in Wenzhou, Zhejiang province, entrepreneurs and factory workers share one vision: turning a 1 trillion yuan GDP and a 10 million population into the "Double Ten Thousand" milestone. This historic coastal city, lauded as the cradle of China’s private sector, is gearing up for its next chapter as government support and local drive collide to spark innovation.
Known for its 99.5 percent privately owned companies, Wenzhou is putting numbers to ambition. The first four months saw value-added output of industrial enterprises above designated size surge 10.9 percent year-on-year. Smart manufacturing hubs in high-tech, strategic emerging industries and digital economy components have led the charge, each posting double-digit growth.
Behind these stats lie stories of young founders scaling up e-commerce platforms, workshops adopting AI tools and established firms branching into green tech solutions. With Beijing’s first fundamental law to promote private businesses now in place—and a series of symposiums dedicated to unlocking entrepreneurial potential—local leaders are optimistic about sustaining this momentum.
Looking ahead, Wenzhou’s journey offers a playbook for regions worldwide eyeing private-sector renaissance. By blending policy support with grassroots innovation, the city underscores how an enabling business environment can turn private passion into public prosperity. For global citizens tracking emerging market trends, Wenzhou proves that the art of the possible often begins at home.
Reference(s):
How China's business environment is helping its privateers thrive
cgtn.com
