China’s 150 million entrepreneurs and professionals contribute a third of total tax revenues, The Outlook Weekly reported yesterday.
The well-educated and highly-motivated professionals and business people hold more than half of the country’s technical patents and command nearly 10 trillion yuan (US$1.25 trillion) of capital.
Official figures show that the emerging economic force including private enterprise owners, technology experts and managers; and professionals such as doctors and lawyers are making a significant contribution to society. In the prosperous East China provinces of Zhejiang and Jiangsu, private enterprises contribute about half of the tax revenues.
The United Front Work Department of the Communist Party of China said that over the past 10 years, private enterprises created nearly 6 million new jobs each year, about 75 per cent of the annual total.
The department also noted that some business people and professionals have made generous charitable donations to society.