Since the beginning of the year, a continuously optimized business environment has stimulated the development of market players in Xi'an, capital of Northwest China's Shaanxi province.

In the first half of the year, the total private investment in the city increased by 22.2 percent year-on-year, and the growth rate was 27.3 percentage points higher than the previous year.

During this period, the added value of the non-public sector reached 274.77 billion yuan ($43.31 billion), accounting for 53.9 percent of GDP.

As of the third quarter of 2021, Xi'an was home to 2.62 million market entities of various types, a year-on-year increase of 13.48 percent.

The city has guided the technological transformation and upgrading of small and medium-sized enterprises (SMEs). In the past three years, more than 1,000 SMEs have received more than 400 million yuan in rewards and subsidies.

Xi'an has also encouraged enterprises to carry out technological innovation. So far, the city has one national and 16 provincial manufacturing innovation centers, 34 national and 223 provincial enterprise technology centers.

In recent years, the city has also strengthened its support policies for financial guarantee institutions for SMEs. In the first three quarters of this year, more than 50 guarantee institutions in Xi'an provided 4,362 micro, small, medium-sized enterprises with 16.69 billion yuan in loan guarantees.

Furthermore, three to five batches of manufacturing entrepreneurs have been arranged to be trained in developed regions every year. So far, more than 250 entrepreneurs have been arranged to participate in five advanced manufacturing entrepreneur training courses held in the cities of Suzhou, Shenzhen and Guangzhou.