Shanghai Daily news

The Zhabei District government said on Wednesday that it will introduce new policies, including giving out 10 million yuan (US$1.23 million) in loans and strengthening cooperation with local financial organizations, in order to further improve the growth of its private sector, which now faces heavy financial burdens. In the first half of 2005, taxes paid by the district's private companies, many of which specialize in the production and services industry, reached 1.16 billion yuan.