ABSTRACT
After more than 10 years of development, the individual and private economy is playing an increasingly significant role in China’s economic and social life. In 1991, the number of employees in individual and private enterprises was 24.419 million, which was equivalent to 17.1% of the total number of employees under the ownership by the whole people and urban collective ownership and accounted for 4.2% of the total number of social workers in the country. The industrial output value of these enterprises was 161 billion yuan, accounting for 5.7% of the country’s total industrial output value. The volume of retail sales totaled 184.44 billion yuan, accounting for 19.6% of the country’s total volume of retail sales. Their tax payment was 17.9 billion yuan, an increase of 22.9% over 1990 and accounting for 6% of the country’s total tax revenue. In some counties and cities, the individual and private economy has increased to more than 50% and become the main source of local financial revenue. The recovery and development of the individual and private economy has played a positive role in promoting production, invigorating circulation, expanding the market, boosting the economy, increasing employment, and meeting the material and cultural needs of the people. This is also a major achievement of reform and opening up.
