Tang Lingshen and Yang Di/Shanghai Daily news

The Zhabei District government launched a couple of new policies early this month, including giving out 10 million yuan (US$1.23 million) in loans and strengthening cooperation with local financial organizations, in order to help private companies facing financial burdens.
Earlier this month, both the city and district government made a series of promises to promote the private sector and Zhabei's entire economy and development.
Officials said the district government will create a benign private sector order with fairness and integrity. It will provide further financial support and other services for the private companies such as offering living permits and social security benefits to their employees.
The district government will also encourage enterprises in science and technology, education, cultural industry, sports, medical and sanitation services.
Shanghai Yunhai Industry Co Ltd is developing into one of the largest enterprises in the district with total asset of some 600 million yuan (US$74.07 million) and more than 1,500 employees.
Shi Youyi, chairman of the enterprise, expressed his joy and gratitude when he was named one of the outstanding entrepreneurs in Zhabei District.
"What I have achieved these years is based not only on my pains and toils, but the preferential policies from the district government aimed to encourage and support the private sector as well."
The district government conducted a survey in April about the current situation of its 8,071 private companies.
The survey found that 56 percent of small- and medium-sized private companies have been refused when applying for loans. More than 70 percent of bank loans went to state-owned enterprises.
So the district government took out 10 million yuan this month to cooperate with the district's financial institutes and set up a platform for loans, from which each company could get up to 5 million yuan.
Any manufacturing enterprises that have been operating for more than six months, or non-manufacturing enterprises that have been running for no less than one year can apply for the one-year loans.
Nowadays, the district's private enterprises are in industries such as modern transport services, commerce and trade services as well as real estate.
The number of private companies in Zhabei District increased 36.1 percent each year, 10 percent above the average level in Shanghai.
Taxes paid by the district's 8,071 private companies reached 1.16 billion yuan in the first half of this year, which accounted for 66.3 percent of the total tax revenue in the district.
These private companies took an active part in different public events which help set a good image for the district. For example, representatives from private companies in Zhabei District donated altogether 757,000 yuan for the Indian Ocean tsunami disaster last year.
Besides, private companies also helped create 9,142 jobs in the district.