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Wan LixinOpinion deputy editor of Shanghai Daily
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Private sector creates 11.4m jobs
Source: Xinhua |
January 30, 2010, Saturday
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Print Edition
Print Edition
CHINA'S private sector created 11.4 million new jobs last year, contributing to more than 90 percent of all urban new employment, latest figures from the All-China Federation of Industry and Commerce showed.
Private enterprises employed 8.4 percent more workers than in 2008 despite the global economic downturn, the federation said.
The number of registered private companies nationwide reached 7.9 million as of September, nearly 10 percent higher than at the end of 2008. The registered capital of those companies reached 1.36 billion yuan (US$200 million).
The growth in the private sector partly explained China's economic vitality in the globally difficult year, during which China's gross domestic product registered 8.7 percent growth year on year.
However, the report said China's private enterprises still faced financing difficulties, especially for small companies.
Private enterprises employed 8.4 percent more workers than in 2008 despite the global economic downturn, the federation said.
The number of registered private companies nationwide reached 7.9 million as of September, nearly 10 percent higher than at the end of 2008. The registered capital of those companies reached 1.36 billion yuan (US$200 million).
The growth in the private sector partly explained China's economic vitality in the globally difficult year, during which China's gross domestic product registered 8.7 percent growth year on year.
However, the report said China's private enterprises still faced financing difficulties, especially for small companies.
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