Abstract Private economy is typical in Zhejiang and has played an indispensable role in the social economic development. Since the beginning of the new century, Zhejiang private economy has revealed its new characteristics, such as the promoted competence, optimal structure, increased vitality, more internationalized, more contribution, and stronger CPC leadership. In the future, Zhejiang private economic development will face both challenges and opportunities. Therefore, Zhejiang private economy should further optimize its development environment, promote its transformation, innovation, opening-up, collectivism and harmony. It is also required to increase its comprehensive competence and international competitiveness, to make Zhejiang from a manufacturing province into a creative province, from a big economic province into a strong economic province, and from a well-off province into a modernized province.
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