China sees steady growth in new businesses in H1

2018-07-08
Xinhua

BEIJING — China saw steady growth of new businesses in the first half (H1) of the year.

A total of 3.27 million new enterprises were established in the first six months of 2018, up 12.5 percent year-on-year, according to the State Administration for Market Regulation.

About 18,100 new firms were set up each day in H1.

New business registration can be conducted online in 22 provinces, while a string of administration streamlining steps have helped about 388,000 enterprises to withdraw from the market, according to the market regulation authority.

The authority said it would continue to reduce administrative approval and improve the business environment to encourage investment and entrepreneurship.