Private companies account for 92% of business entities in China

0 Comment(s)Print E-mail Xinhua, November 15, 2023
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A worker checks the monitoring data in the workshop of a glass company in Cangxian County, north China's Hebei Province, on Feb. 8, 2023. [Photo/Xinhua]

The number of registered private companies nationwide reached more than 52 million by the end of September, accounting for 92.3 percent of total enterprises registered in China, the State Administration for Market Regulation (SAMR) said Tuesday.

The development resilience of China's private enterprises continues to be evident in the context of a complex international environment and mounting downward pressure on the domestic economy, the SAMR said.

Some 7.07 million new private companies were established during the January-September period, up 15.3 percent year on year, the SAMR added.

The SAMR data also showed that some 17.2 million individual businesses were newly established nationwide in the first three quarters, up 11.7 percent year on year.

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