Shantou accelerates a burgeoning private sector to shore up digital transformation

Coastal city relies on private entrepreneurship for economic advance Shantou: VCG Shantou, a special economic zone (SEZ) located in coastal Guangdong Province, is home to a burgeoning private economy. Small and medium-sized enterprises (SMEs) spanning toys to electronic equipment and machinery manufacturing have served as a strong foundation for the city’s economic growth and employment resilience. Standing at a new historical starting point, local officials are aiming to accelerate the building of a fully digitalized special economic zone in a bid to become a digital hub that serves the country, Southeast Asia and beyond. In the process, the local Shantou municipal government is stepping up efforts to boost the enthusiasm and vitality of the private sector, which has become an indispensable force in promoting China’s modernization. Guangdong TianYiMa Information Industry Co, a local enterprise that specializes in software and information services, was listed on the ChiNext Index of the Shenzhen Stock Exchange in early 2021. "Thanks to the government’s timely guidance, our transformation from selling computer hardware and software to providing information-based services closely follows the development of the country’s emerging industries including the digital economy, information technology and smart cities," Lin Shaoyong, deputy general manager of the company, […]

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