706 Million Private Companies Established in China from Q1 to Q3

More than 7.06 million private enterprises have been newly established in China this year. Foreign-invested enterprises also saw a slight increase, approaching 700,000.

On the 14th, China’s Pengpai News cited the announcement from the State Administration for Market Regulation, reporting that 7.065 million new private enterprises were established nationwide from January to March this year. This represents a 15.3% increase compared to the previous year.

[Image source= Xinhua News Agency]

Accordingly, as of the end of September, the total number of registered private enterprises nationwide reached 52 million, accounting for 92.3% of all enterprises.

Newly established enterprises were concentrated in the eastern region. The eastern region saw 3.51 million new enterprises, a 12.6% increase; the central region had 1.766 million, a 16% increase; and the western region recorded 1.49 million, a 23.3% increase. The relatively underdeveloped northeastern region established 299,000 enterprises, marking a 7.4% growth rate.

Pengpai News evaluated that more advanced enterprises were intensively established. According to the statistics, tertiary industry enterprises accounted for over 80%, with 5.665 million enterprises, while primary and secondary industry enterprises recorded 284,000 and 1.116 million respectively.

The number of foreign-invested enterprises, which sharply declined during the COVID-19 pandemic, also showed a slight upward trend. As of the end of September, 684,000 foreign-invested enterprises were registered nationwide, representing a 1.5% increase compared to the end of last year.

Pengpai News explained, "As the impact of the pandemic subsides, the confidence in foreign-invested enterprises has been continuously restored," adding, "The number of newly established foreign-invested enterprises has also improved." The newspaper noted, "This year, the top investors are Hong Kong, Macao, Taiwan, South Korea, the United States, and Japan," and added, "Russia, Brazil, Canada, and Australia are increasing their investments faster than last year."

This content was produced with the assistance of AI translation services.