Zhejiang's economy has been growing with the public sector remaining dominant and diverse sectors of economy developing side by side.

Consisting of 991 state-owned or controlled enterprises (SOEs), the public sector has seen its influence and competitiveness persistently strengthened. State-owned assets have been further concentrated in the core fields and key sectors.

The proportion of stated-owned and controlled industries in electrics, telecom, tap-water and gas supply exceeds 80 percent, that in capital-intensive rawmaterial industries such as chemicals and metallurgy exceeds 50 percent and that in newly developed technology-intensive industries such as electronics and pharmaceuticals exceeds 40 percent.

The SOEs have also created favorable conditions for the development of the private economy through dissemination of products, technology and equipment.

Private economy has been booming in Zhejiang, which is one of the earliest provinces for developing township enterprises (TEs).

Now, the province leads the country in the overall development level of TEs. Non-state investment has made up more than half of the total investment in recent years.

At the end of 2002, there were totally 247,300 private enterprises with a combined output value of 742.67 billion yuan. Zhejiang takes the first place in the country in the five indices of total output value, total sales volume, retail trade turnover of consumables, foreign currency earnings from export and the number of China's top 500 enterprises in the private sector.

Specifically, of the top 500 private enterprises in China, 170 are in Zhejiang, which constitutes the largest group from any single province. Of the ten largest private enterprises in the country, five are in Zhejiang with four of them taking the top five places, namely Jinyi, Jintian, Bangdi, and Feiyue.

In the province, 222 trade marks registered by private enterprises have been identified as provincial level famous brands. Thirteen of them such as Transfar, Bushen, Kangnai, Zhengtai and Delix have been listed as national brand names.

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