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Back in 2002, Taizhou had only two listed private enterprises. Sixteen years later, through sustained effort and meticulous cultivation, the city has seen its family run businesses transform into modern enterprises; its former small scale, fragmented economic structures evolve into seven industrial clusters each valued at over RMB 100 billion; and its growth model shift from internally driven accumulation to overseas mergers and acquisitions with leap forward development. Step by step, Taizhou’s private economy is advancing toward a new stage of prosperity. As part of this progress, Zhejiang Wodeer Technology Group has continued to invest in innovation driven R&D, strictly control product quality, and enhance corporate management capabilities. Through its own development path, the company has actively contributed to the take off and high quality growth of Taizhou’s private economy.
Mr. Liuxiao Huang, Chairman of Wodeer Technology Co., Ltd., said: “If we were to exercise relatively tighter control over R&D and scale it back to some extent, profits would actually come very quickly. Our customer base already covers almost all major automakers in China, and the recognition we have received from our customers has further strengthened our confidence to keep moving forward.”
With effective coordination and support from both the government and the market—the “two hands”—and through the combination of an effective market and a proactive government, the advantages of the private economy have been fully unleashed. As a result, private enterprises in Taizhou have developed strong resilience and robust vitality in the face of challenges.
