SAMR: Number of China’s Market Entities Rises by 100m in Past Decade

SAMR: Number of China’s Market Entities Rises by 100m in Past Decade
Photo: pixabay.com 12.10.2022 557

The number of enterprises in China rose from more than 13 million to more than 51 million in the past decade, data released by the State Administration for Market Regulation (SAMR) showed. This is close to the number of US and EU companies combined.

The SAMR said that the total number of market players in China had risen by 100 million since the 18th National Congress of the Communist Party of China in 2012. The agency considers such figures a historical breakthrough, demonstrating China's enormous market potential. 

The number of private enterprises in China rose from more than 10 million at the end of 2012 to more than 47 million as of the end of August 2022, and the proportion of private enterprises increased from less than 80 percent to more than 90 percent, the SAMR said.

China is still a hot spot for international investment. The number of foreign-invested enterprises increased by more than 50%: from 441,000 to 668,000

The common development of market entities with various types of ownership fully demonstrates the advantages and vitality of the basic socialist economic system with Chinese characteristics, the SAMR said. 

The regulator also noted that the average start-up time for Chinese enterprises had been reduced from more than one month to less than four working days.

China has been a global leader in improving its business environment, the SAMR said. Since the launch of reform and opening-up, the global ranking of China's business environment jumped from 96 to 31. 

Source: The Global Times

China 

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