China 2023-09-15T04:54:24+03:00
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China's market entities surpass 160 mln

China's market entities surpass 160 mln

economics, China, business, statistics, Market, PRC, entities
China's market entities. Photo by Xinhua.
China's market entities. Photo by Xinhua.

China's registered market entities totaled 161 mln at the end of June, up 4.4% from 2021, indicating sustained economic vitality, official data showed. This was reported by The Xinhua News Agency.

Among all the entities, 50.39 mln are businesses and 107.94 mln are self-employed individuals, according to the State Administration for Market Regulation. In the January-June period, the number of newly-added market entities stood at 14.54 mln, up 4.3% year on year.

New business registration growth softened in April due to unexpected factors but regained momentum in May and marked a surge of 19.7% in June thanks to an array of economic stabilization measures.

In the first half, the growth rate of new economy market entities stood well above the average. More than half of the newly-added firms were related to new technologies, new industries and new business models. The registration of new energy businesses, in particular, grew by over 30%.

During this period, 604,000 new enterprises were established in the core industries of digital economy, up 20% year on year. At the end of June, the number of such businesses nationwide reached 5.1 mln in total.

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