China's entrepreneurial landscape is thriving, with the total number of business entities reaching a remarkable 188 million by the end of September 2024. This marks a 3.9-percent increase compared to the same period last year, as reported by the State Administration for Market Regulation on Friday.
Of these, 60.2 million are companies, while a staggering 125 million are self-employed businesses. Self-employed entities saw a notable 6.1 percent growth, outpacing the overall increase.
This surge is attributed to a series of policy measures aimed at expanding domestic demand, boosting confidence, and energizing various market players. These initiatives have been instrumental in driving the growth of business entities throughout the first three quarters of the year.
In addition, approximately 20.7 million new business entities were registered during this period, underscoring robust entrepreneurial expansion across the nation. The growth remained balanced across different regions, reflecting a continued shift towards a more optimized industrial structure spanning primary, secondary, and tertiary sectors.
As China continues to foster a dynamic business environment, these trends highlight the country's resilience and adaptability in the face of global economic challenges.
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China's business entities reach 188 million, up 3.9% year on year
cgtn.com
