Starting out with nothing, reaping rich rewards in market

China is boosting the role of the private sector with a series of reforms, including the abolition of minimum capital requirements for newly registered companies.

According to the State Administration for Industry and Commerce, new company registrations increased 42.6 percent year-on-year in the first quarter of 2014. Most of those new enterprises were small or medium-sized, with registered capital of less than 10 million yuan ($1.62 million).

In some cases, companies were registered with no paid-in capital at all. That's allowed under the new rules.