Reform spurs growth of new firms, jobs
Print Edition
CHINA’S business system reform has boosted growth of new businesses and jobs, a senior official said yesterday.
Growth of new businesses rose from about 6,900 each day in 2013 to about 12,000 in 2015, with each new firm offering about seven job positions thanks to the business system reform, Zhang Mao, head of the State Administration for Industry and Commerce, said at a press conference.
About 74.8 percent of the new businesses were in the service sector in 2015, up 1.5 percent year on year, which has helped facilitate economic restructuring, according to Zhang.
Over 90 percent of new businesses are set up by individuals as more people become entrepreneurial due to government support, Zhang added.
China will keep cutting red tape to smoothen applying for company names or trade marks and will improve advertisement regulations, Zhang said.
Business system reform started in 2013 to cut administrative procedures and optimize market supervision.
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