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BEIJING, Nov. 25-- Seeing her photo at an ongoing exhibition at the National Museum of China, Zhang Huamei could not withhold her excitement and the memory it brought her. In 1980, the 19-year-old Zhang became the first registered private business owner after China's adoption of reform and opening-up policies. Little did she know that the license paper would be kept as a historical relic. Her license is one of the hundreds of exhibits telling graphic stories about how China developed from a rigid, backward economy into a dynamic powerhouse over the past 40 years. The hand-written permit is seen as a symbol of the subsequent rise of China's private businesses and its economy. In eight years, another 14.5 million small businesses like Zhang's were approved. They have now developed into a non-public sector that accounts for 80 percent of urban employment, 70 percent of technological innovations, 60 percent of economic output and 50 percent of tax revenue in China. In 2018, 28 private companies have made their way into the Fortune 500 list. Private businesses have been steadily expanding in China. From January to September, some 4.694 million new private firms registered with the market regulation authorities. That means each day, China sees the springing up of more than 17,200 private firms. "The reform and opening-up has given me the courage and opportunities to succeed," said Zhang, who now runs a multi-million yuan business selling garment accessories like buttons and zippers in Wenzhou, east China's Zhejiang Province. | 
