Non-state Sector Leading Local Economy in South China

Emerging Markets Economy, Apr 8, 2003

Huawei Technology, a non-state firm based in Shenzhen city, south China's Guangdong province, heads the country's top 100 software enterprises ranked by the Ministry of Information Industry for 2002.

Huawei, with sales of 28 billion yuan (US$3.4 billion) last year, has emerged over the past 20-plus years and heads the field of non- state economic entities that have developed into a driving force for local economy.

A special economic zone, Shenzhen is now home to 54,888 private and non-state firms, 53.6 times the figure for 1991 and much higher than the mere seven self-employed businesses two decades ago. The enterprises have 81.6 billion yuan (US$9.8 billion) in combined registered capital, 544 times the 1991 level. - (EMEconomy.com)