The Chinese mainland witnessed a robust increase in registered business entities, rising by 3.1% year on year to reach 189 million by the end of 2024, according to an official from the State Administration for Market Regulation.
In the first three quarters of the previous year, approximately 7.22 million new business entities were registered, focusing on tax-related activities. This marks a significant expansion of 17.4% compared to the same period last year, as highlighted by Shu Wei, deputy head of the administration, during a recent press conference.
Consumer rights protection has also made notable strides, with authorities successfully recovering over 4.72 billion yuan ($656.69 million) in economic losses stemming from complaints and reports. This represents a 17.1% increase year on year, underscoring the commitment to safeguarding consumers.
Shu emphasized that these advancements are a testament to broader regulatory efforts aimed at creating a fair market environment. This includes targeted support for individual businesses and stricter law enforcement measures to protect the legitimate rights of business entities.
Additionally, the Chinese mainland has intensified efforts to enhance competition within the platform economy. Initiatives to transform traditional industries, cultivate emerging sectors, and plan for future industries are underway, all with a focus on boosting the resilience of industrial chains.
Reference(s):
cgtn.com
