China's first analysis on private economy in large cities was recently completed by Shanghai Federation of Industry and Commerce. The analysis shows that large cities have become the paradise for the development of China's private economy. About one fourth of private economy is concentrated in Beijing, Shanghai, Chongqing and Guangzhou.

Statistics show that by the end of 2003 private enterprises in these four cities, which are located respectively in the east, west, south and north of China, have accumulated to 617,000 accounting for 21 percent of the 3 million private enterprises nationwide. Total registered capital of private firms in these four cities has reached 800 billion yuan, which is 23 percent of the 3.5 trillion yuan registered capital of private firms nationwide.

By People's Daily Online