Newly-registered companies jump 27.6%
Print Edition
The number of newly-registered enterprises in China surged 27.6 percent year on year in 2013 as the country implemented measures to streamline business administration, official figures showed yesterday.
A total of 2.5 million new companies were set up last year, according to a report released by the State Administration of Industry and Commerce.
The fast rise in the number of new firms showed the market’s vitality, the report said.
Amid economic downward pressure both at home and abroad, China made efforts to facilitate business registration last year, including removing the minimum capital requirements, replacing the annual inspection of companies with a reporting system, and loosening controls over sites for business operation.
The report also showed China had 15.28 million businesses at the end of last year, up 11.8 percent from a year earlier. Their registered capital rose 17.37 percent to 96.88 trillion yuan (US$16.03 trillion).
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