Eased rules pave way for new company launches

An average of 12,000 new companies were registered every day in China last year as deepened reforms in the business sector boosted market vitality, a senior official said on Monday.

In contrast, the number of new firms registered each day before the government introduced the reforms about two years ago was 6,900, according to the head of the State Administration for Industry and Commerce.

Zhang Mao, minister of the administration, said at a news conference in Beijing, "With China's economy entering the new normal phase, maintaining sustainable growth is really about maintaining market vitality."