Workers examine new energy vehicles ready to roll off the production line at a company in Qingdao, Shandong province, on Feb 17. [Photo by Zhang Jingang/For China Daily]

Private enterprises have made great contributions to Qingdao's social and economic development, local authorities said.

According to official statistics, private investment in Qingdao increased by 15.2 percent year-on-year from January to September this year, accounting for 61.2 percent of the city's fixed asset investment. The imports and exports of private businesses reached 414.2 billion yuan ($64.69 billion), up 40.45 percent year-on-year, accounting for 66.5 percent of the city's total foreign trade.

During this period, the private economy generated a tax revenue of 97.44 billion yuan and created 273,000 new jobs, accounting for 88.8 percent of the city's new urban jobs.

Qingdao will launch more steps to promote the development of private enterprises to further stimulate their vitality and creativity and spur growth despite rising global uncertainties, said local officials.

The city will also support the reform and development as well as transformation and upgrading of private enterprises.

More efforts will be made to create a better business environment, ensure fair competition, establish a mechanism for entrepreneurs to participate in the formulation of enterprise-related policies, and set up a unified policy information service platform for private businesses.