China home to over 50 mln private enterprises

A worker operates an automatic machine at a laboratory of Right Silver in Hangzhou, east China's Zhejiang Province, March 22, 2023. (Xinhua/Xu Yu)

BEIJING, July 10 (Xinhua) -- The number of registered private enterprises in China reached about 50.93 million as of the end of May, up 3.7 times from 10.86 million at the end of 2012, reported People's Daily Overseas Edition quoting data from the State Administration for Market Regulation (SAMR).

The proportion of private enterprises in the total tally increased to 92.4 percent by the end of May from 79.4 percent in 2012, official data showed. 

China's private businesses have shown strong resilience and vitality since the start of this year. According to an official in charge of the registration bureau of the SAMR, some 3.764 million new private enterprises were set up in the first five months, up 17.2 percent year on year.

The newly established private enterprises mainly operated in the sectors of wholesale and retail, leasing and commercial services, scientific research and technology services. New businesses in the three trades accounted for 34.1 percent, 13.9 percent, and 12.1 percent respectively of the total. 

Meanwhile, private enterprises engaged in new technologies, industries, business formats and models have seen sound growth momentum. As of the end of May, 2.15 million newly established private businesses were related to new technologies, industries, formats and models, accounting for 57.1 percent of the total.

Regional development became more balanced. By the end of May, the number of registered private enterprises in China's eastern, central, western, and northeastern regions were about 28.23 million, 10.51 million, 9.73 million and 2.40 million, accounting for 55.4 percent, 20.6 percent, 19.2 percent and 4.7 percent of the total.

Industrial structure kept improving. As of the end of May, the number of private enterprises in the primary, secondary, and tertiary industries were 1.776 million, 10.32 million, and 38.83 million, respectively, accounting for 3.5 percent, 20.3 percent, and 76.2 percent of the total. (Edited by Su Dan with Xinhua Silk Road, sudan@xinhua.org)