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Economy

China sees fast growing entrepreneurship

CGTN | Fri,2017-07-14

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China saw fast growth in entrepreneurship in the first half of this year with increasing registration of companies and self-employed entrepreneurs, which will eventually play a bigger role in boosting employment in the second quarter. 

In the first half of 2017, a total of 5.809 million self-employed entrepreneurs have been registered, up 14.8%, according to the State Administration for Industry and Commerce on Thursday.

A total of 2.911 million new companies were registered in H1, up 11.1% from the same period a year ago.

Each day, 49,000 new companies or self-employed entrepreneurs are registered on average. 

According to official data, the new companies played a bigger role in boosting China's employment in the second quarter, contributing 11.2% from the first quarter.

Chinese Premier Li Keqiang in June praised China for having achieved better-than-expected results in its efforts to drive mass entrepreneurship and innovation at the Summer Davos held in northeast China's coastal city Dalian.

He said mass entrepreneurship and innovation are an effective way to realize inclusive growth as the process engages and benefits the people extensively.