China registered 15.5 million new market entities in first eight months of 2024
China's State Administration for Market Regulation reported 15.502 million new market entities were registered from January to August 2024, including 6.001 million enterprises and 9.474 million individual businesses. The service sector accounted for 13.788 million new entities. Registered "Four New" economy enterprises reached 29.301 million, up 5.4% year-on-year, representing 44.0% of all enterprises.
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China's New Market Entities Reach 15.5 Million in First Eight Months of 2024
According to a report from the State Administration for Market Regulation (SAMR) at its third-quarter regular press conference on September 24, China registered 15.502 million new market entities nationwide from January to August 2024. This total includes 6.001 million enterprises, 9.474 million individual businesses, and 27,000 farmer cooperatives. The report characterizes this growth as 'competitive growth' of various business entities, which 'consolidates the basic foundation of the market economy.' The data reflects the ongoing dynamism of China's business registration environment and provides a snapshot of entrepreneurial activity across the country during the period.
Read sourceChina's New Market Entities Reach 15.5 Million in First Eight Months of 2024, Regulator Says
China's State Administration for Market Regulation announced at a quarterly press conference that from January to August 2024, the country registered 15.502 million new market entities. This total includes 6.001 million enterprises, 9.474 million individual businesses, and 27,000 farmer cooperatives. The industrial structure continued to optimize, with the tertiary sector (services) accounting for 13.788 million new entities, underscoring its role as a key engine for employment, consumption, and economic transformation. The primary sector added 565,000 entities, and the secondary sector added 1.149 million. The report highlighted the accelerated growth of the 'Four New' economy (new industries, new business forms, new models, and new technologies). As of the end of August, the number of registered 'Four New' economy enterprises reached 29.301 million, a year-on-year increase of 5.4%, representing 44.0% of all registered enterprises. The regulator stated that innovation factors are accelerating and the conversion of old and new growth drivers is speeding up.
Read sourceChina's New Market Entities Reach 15.5 Million in First Eight Months of 2024
According to a quarterly press conference by China's State Administration for Market Regulation on September 24, the country registered 15.502 million new market entities from January to August 2024. This total includes 6.001 million enterprises, 9.474 million individual businesses, and 27,000 farmer cooperatives. The data indicates a continued optimization of industrial structure, with the tertiary sector (services) accounting for 13.788 million new entities, serving as a key engine for employment, consumption, and economic transformation. The 'Four New' economy—encompassing new industries, new business formats, new models, and new technologies—is accelerating. As of the end of August, registered 'Four New' economy enterprises reached 29.301 million, a year-on-year increase of 5.4%, representing 44.0% of all enterprises. The report highlights the gathering of innovation factors and the acceleration of the transition between old and new growth drivers.
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China's New Market Entities Reach 15.5 Million in First Eight Months of 2024
According to data released by China's State Administration for Market Regulation (SAMR) at its third-quarter regular press conference on September 24, a total of 15.502 million new market entities were registered nationwide from January to August 2024. This includes 6.001 million enterprises, 9.474 million individual businesses, and 27,000 farmer cooperatives. The data indicates a continued optimization of the industrial structure, with the tertiary sector (services) accounting for 13.788 million new entities, underscoring its role as a key driver of employment, consumption, and economic transformation. Additionally, the 'Four New' economy—encompassing new industries, new business formats, new models, and new technologies—showed robust growth. As of the end of August, the number of registered 'Four New' economy enterprises reached 29.301 million, a year-on-year increase of 5.4%, representing 44.0% of all registered enterprises. The report highlights accelerating innovation and the conversion of old growth drivers into new ones.
Read sourceChina's New Market Entities Reach 15.5 Million in First Eight Months of 2024
According to data released by China's State Administration for Market Regulation (SAMR) at its third-quarter regular press conference on September 24, 2024, a total of 15.502 million new business entities were registered nationwide in China during the first eight months of the year. This figure includes 6.001 million new enterprises, 9.474 million individual businesses, and 27,000 specialized farmer cooperatives. The report, cited by Jin10 and originally from CCTV News, characterizes the growth of these diverse market entities as reinforcing the foundation of the market economy.