Private employment was a sensitive issue when China began to shift from a planned economy to a market one. The Jinjiang government gave the green light to private financing to start enterprises, employ workers, distribute dividends, and to market-based pricing, making Jinjiang a pioneer of China's rural industrialization.
As early as 1984, Chendai Township where most of Jinjiang's private enterprises were located, became the first township in the province to have a total industrial and agricultural output of over 100 million yuan.
In the same year, Jinjiang welcomed the first batch of foreign investors, many of whom were overseas Chinese with Jinjiang as their ancestral home. In 1994, the number of foreign-funded enterprises reached 1,000, with a total production value of more than 8 billion yuan.
In 1998, Hengan Group, which started as a sanitary towel maker, became the first listed company in Jinjiang. Now it has 46 listed companies with a market value of more than 180 billion yuan.
In 2005, ANTA set up China's first high-tech sports science lab. It has also set up design centers in the United States, Japan and the Republic of Korea, achieving Jinjiang manufacturers' ambitions of going global.
"We don't want to be China's Nike, but the world's ANTA," said its chairman and CEO Ding Shizhong, who is eyeing a dominant role in the Chinese market with an expected yearly revenue of more than 100 billion yuan by 2025.
【国内英语资讯:China Focus: A small citys rise to prosperity】相关文章:
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