According to the Kunming Federation of Industry and Commerce, Kunming has effectively promoted the establishment of non-public economy pilot areas, substantially developing the private economy. In the last year, the city's private economy contributed 50.2 percent of tax revenue.
The non-public economy pilot areas benefit the stable development of private enterprises. Kunming attaches great importance to the establishment of these areas by immediately building pilot programs including preferential policies for enterprises which serve the development of private companies.
Wang Guoxin, head of Yunnan Ju Li Group, stated that the development of enterprises was gradually improving throughout the last 30 years. To support private enterprises, Kunming has enacted 20 laws on the development of private economy, 30 laws on the legal environment of private economy, and 16 laws on the reform of private enterprises.
Statistics show that in 2022, Kunming's private economy contributed 50.2 percent of tax revenue, 40.2 percent of GDP, 46.8 percent of investment, 43.3 percent of imports and exports, and 96.7 percent of the number of market entities. The added value of the private economy reached 302.88 billion yuan($43.96 billion) with a year-on-year growth rate of 3.4 percent. The number of private market players reached 1.16 million with a year-on-year growth rate of 19.88 percent.
