Research on the Competitiveness Evaluation of Private Economy Based on Principal Component Analysis

Abstract

The rapid development of private economy has made great contributions to the cause of socialism with Chinese characteristics. In order to promote the development of private economy to a higher level, this paper analyzes the development of private economy in Guangdong Province in recent years, constructs the evaluation index system of regional private economy competitiveness from six dimensions of regional economic strength, business environment, profitability, innovation ability, development potential and corporate social responsibility, and determines the weight of each evaluation index by principal component analysis of private economy competitiveness evaluation model. The results show that the overall competitiveness of private enterprises in Guangdong Province is increasing year by year, the scores of each index are also increasing year by year, and some indexes fluctuate greatly. According to the score of each index, this paper puts forward the countermeasures to enhance the competitiveness of private economy in Guangdong Province, so as to promote the healthy and sustainable development of private enterprise economy.