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SIP Association of Private Enterprises Celebrates 10th Anniversary
 and Raises Million RMB Charity Fund

Representatives from 320 enterprises gathered at Yangcheng Lake Hotel on Dec. 20 to celebrated the 10th anniversary of the founding the association. Wang Dechao, Chairman of Jiangsu Provincial Association of Private and Individual Economies, came to the occasion to offer congratulations. At the celebration rally, 153 enterprises and individual businesses were awarded "Stars of Honor" titles for the year 2007.

The association formally announced its logo at the celebration rally, a design of a square inside a circle showing the name of the association and initials "SS", meaning SIP and Private Sector, symbolizing the solemnity and harmony of the organization.

The most exciting part of the rally is the charity auction organized by the association and SIP Industry and Commerce Administration. Five well-known native artists of Suzhou, Wang Xiqi, Zhang Xiaofei, Zhang Zhong, Pan Guoguang, and Huang Zhong, were invited by the organizers to bring 14 works to the auction, and the bidding started from a bottom price of 5,000 RMB each. The works were all sold at the prices from 30,000 to 60,000 RMB, adding up to a total amount of 905,000 RMB, which is contributed to SIP Charity Federation.

The total volume of private economy in SIP showed an ever-increasing trend in 2007. By the end of November, there had been 9,833 registered civilian-run enterprises in SIP with a total registered capital of 31.9 billion RMB, which grew 25 and 160 times respectively over those of ten years ago. The private economic sector is also making significant contributions to the social and economic progress in SIP in the course of rapid development. At present, the private sector is contributing 15% of the financial revenue of the whole of SIP, apart from the role in promoting employment and charity undertakings in SIP.

Dec. 21, 2007

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