Be Your Own Boss
SINCE the emergence of China’s first private business in 1980, the proportion of private enterprises in the national economy has grown steadily and swiftly. In 2004 the government enacted an amendament for the protection of private property in the Constitution, and in the following years created a series of policies that encouraged individual entrepreneurship. These efforts prompted a wave of start-up businesses and formed the catalyst for the rapid development of the private sector. Despite the impact of the global financial crisis, in 2008 China’s private economy still experienced faster growth than seen in the previous four years. By the end of 2008, the number of registered private enterprises had reached million nationwide, with a registered capital of RMB trillion; and the percentage of private enterprises to domestically funded ones increased to percent from 63 percent in 2007, generating nine million additional job opportunities.
Grassroots Effort
Xu Wengang, a 36-year-old rural villager of Suqian City in coastal Jiangsu Province, got himself a job at a local factory after graduating from junior middle school. By 2009 he had brought his monthly e up to over US $400; together with his wife’s earnings from her part time work and the e from their crops, their budget supports a relatively stable and affluent life.
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