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China registers 15.5 million new market entities in Jan-Aug, services sector accounts for nearly 90%
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According to a press conference by China's State Administration for Market Regulation, from January to August 2024, China registered 15.502 million new business entities. This includes 6.001 million enterprises, 9.474 million individual businesses, and 27,000 farmer cooperatives. The industrial structure continues to optimize, 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 (new industries, new business formats, new business models, and new technologies) is accelerating its growth. 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. This indicates a rapid shift in economic drivers and an acceleration of innovation factors.
Source report
Beijing – According to the third-quarter regular press conference of the State Administration for Market Regulation, China saw 15.502 million new business entities registered between January and August. This includes:
- 6.001 million enterprises
- 9.474 million individual businesses
- 27,000 farmers' cooperatives
The steady growth of diverse business entities has reinforced the foundation of the market economy.
Industrial Structure Continues to Improve
From January to August, the distribution of new business entities across industries was as follows:
- Primary industry: 565,000 new entities
- Secondary industry: 1.149 million new entities
- Tertiary industry: 13.788 million new entities
The service sector remains a key driver of employment, consumption, and economic transformation.
"Four New" Economy Accelerates
The "Four New" economy—encompassing new industries, new business formats, new business models, and new technologies—is growing rapidly. As of the end of August:
- 29.301 million "Four New" economy enterprises were registered nationwide
- This represents a year-on-year increase of 5.4%
- These enterprises account for 44.0% of all registered enterprises
Innovation factors are increasingly concentrated, and the transition from old to new growth drivers is accelerating.
Editor: Zhao Peng | Chief Editor: Wang Jia | Final Review: Ma Fang
Source
央视网Eastern
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China registers 15.5 million new business entities in first eight months of 2024