Entrepreneurs from 13 private companies discuss developing Shanghai's private sector economy at a meeting in the Lin-gang Special Area of the China (Shanghai) Pilot Free Trade Zone on Jan 7. [Photo/sheitc.sh.gov.cn]

Entrepreneurs from 13 prestigious private companies in Shanghai visited the Lin-gang Special Area of the China (Shanghai) Pilot Free Trade Zone on Jan 7 to discuss developing private firms in Shanghai.

The visit came at the invitation of the Shanghai Municipal Economic and Informationization Commission.

Representatives from companies like Cedar Holdings, Hengrui Medicine, Yunnan Baiyao Group, and Dahua discussed their future development plans, as well as offered advice on improving Shanghai's business environment and industrial economy at the meeting.

During the meeting, officials from the Shanghai Municipal Economic and Informationization Commission briefed the attendees on the current industrial economy conditions in Shanghai. Officials from the Lin-gang Special Area then outlined the favorable policies of Lin-gang.

The representative from Thunder Software Co Ltd said that it is highly possible for China to lead the globe in the smart automobile industry over the next decade.

"Lin-gang's advantages in land and policies give it an edge to develop the smart internet of automobiles," he said. "We can consider establishing a test center in the special area."

Shanghai has consistently stressed the importance of developing the private sector economy, as it drives economic growth, promotes innovative development, brings jobs for people, and increases market vitality.

Shanghai has released 27 guidelines to spur the growth of the private sector economy, and has prioritized enhancing support for the private sector economy in the city's 2020 work plan.

The city is now working to develop a business climate with an international competitive edge in the hope of attracting more private firms to invest and seek opportunities there.