Related News

Home » Business » Economy

Growth of new companies is slowing

CHINA'S industry and commerce authorities have said the number of businesses established in China rose only 0.78 percent year on year in 2008, much slower than an average of 5 percent growth in the previous five years.

At the end of last year, the number of businesses in China totaled 9.71 million, up 0.78 percent, or 74,900, over a year ago, the State Administration for Industry and Commerce said.

Private sectors and foreign-funded companies retained stable growth despite the global financial crisis.

By the end of last year, the number of private businesses stood at 6.57 million, up 9 percent, or 543,700.

The number of foreign-funded companies rose 7 percent to 434,900 last year, with total investment exceeding US$2.32 trillion, up 10.21 percent year on year.

The statistics also showed more companies had been set up in the western and central areas as China tried to move more industries into the regions, while the number of companies fell in more-developed eastern regions.


Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.

沪公网安备 31010602000204号

Email this to your friend