China’s entrepreneurial landscape continues to flourish, with the number of business entities reaching an impressive 188 million by the end of September 2024. This marks a 3.9-percent increase compared to the same period last year, according to the State Administration for Market Regulation.
Among these, the Chinese mainland boasts 60.2 million companies, reflecting a robust 6.1-percent year-on-year growth. Additionally, over 125 million self-employed businesses contribute to the dynamic market, growing by 3 percent from the previous year.
This sustained growth is attributed to a series of policy measures aimed at expanding domestic demand, boosting confidence, and energizing various market players. These initiatives have fueled the establishment of about 20.7 million new business entities in the first three quarters of the year, showcasing the resilience and vitality of China’s economy.
The administration highlighted that growth in new business entities remained balanced across regions, indicating a positive trend toward economic inclusivity. There’s also a continued shift toward a more optimized industrial structure across the primary, secondary, and tertiary sectors.
This expansion not only underscores China’s pivotal role in global affairs but also presents significant opportunities for entrepreneurs, investors, and market analysts worldwide. The evolving business landscape offers insights into emerging economic trends and business opportunities within the Asian markets.
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China's business entities reach 188 million, up 3.9% year on year
cgtn.com
