Home / Business / Macro

China has 10m private enterprises

Xinhua | Updated: 2013-02-02 10:52

BEIJING -- China's economy is benefiting from more than 10 million private enterprises that are now established in the country, according to an industry federation leader on Friday.

As of September last year, more than 10.59 million private firms were registered in the country, an increase of 12.6 percent year-on-year, according to Wang Qinmin, chairman of the All-China Federation of Industry and Commerce.

On Friday, the federation released a report on private enterprises in the country.

According to the report, the registered capital of the enterprises has reached 29.8 trillion yuan ($4.7 trillion), marking a year-on-year rise of 21.3 percent.

The average registered capital of each firm also grew by 7.8 percent year-on-year, indicating the strength of these businesses, the report said.

The report said the number of registered individual businesses reached 39.85 million as of last September, and it estimated that it topped 40 million by the end of 2012. Registered capital increased by 21.2 percent.

The private businesses have made a remarkable contribution to the country's economy, as they accounted for over 60 percent of the total gross domestic product in China last year, the report said.


Related Readings

Private sector stays upbeat, business buoyant

Private firms more agile in getting brands recognized

Private companies fly the flag on distant shores

Private firms blooming in business


Most Viewed in 24 Hours
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349