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Enthusiasm for entrepreneurship runs high in China

Updated: Aug 8, 2018 Xinhua Print

BEIJING — China saw more than 600,000 new enterprises established each month from April to June, reflecting the high enthusiasm for entrepreneurship in the country.

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

This means there was an average of 18,100 new companies set up each day from January to June, according to the SAMR.

In the first half of the year, the service sector saw the most new businesses, with 2.614 million companies established in the sector, up 14.3 percent from the same period last year.

The number of foreign-invested enterprises saw the fastest increase, with 45,000 new ones set up in the first six months, nearly double the same period last year.

Regionally speaking, central China experienced the biggest increase in the number of new businesses, which jumped 16.8 percent year-on-year.

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