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8 out of 100 Shanghai people own a business

MORE and more Shanghai residents are starting their own businesses and nearly eight in every 100 people reported to run a firm last year, a survey revealed yesterday.

The survey, conducted by the Shanghai Human Resources and Social Security Bureau, said 7.7 percent of local residents aged 16 to 64 had their own businesses, slightly higher than 7.5 percent in 2009.

Six years ago when the city first carried out the survey, only 4.91 percent of Shanghai residents had their own businesses.

Young people, below 35, are more enthusiastic to run their own businesses. Nine in every 100 people are their own bosses and 14.1 percent of this age group have reported to start their own firms this year.

According to the survey, 40.6 percent of those starting their own businesses chose the sales and retail sector, followed by service, IT and software, accommodation and catering, and manufacturing, due to the better opportunities.


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