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Eased rules pave way for new company launches

Updated: 2016-02-24
By James Wang (chinadaily.com.cn)

An average of 12,000 new companies were registered every day in China last year as deepened reforms in the business sector boosted market vitality, a senior official said on Monday.

In contrast, the number of new firms registered each day before the government introduced the reforms about two years ago was 6,900, according to the head of the State Administration for Industry and Commerce.

Zhang Mao, minister of the administration, said at a news conference in Beijing, "With China's economy entering the new normal phase, maintaining sustainable growth is really about maintaining market vitality."

The reforms, which lower the threshold for setting up businesses and simplify the process for entrepreneurs to register or cancel their businesses, have had a great influence in this respect.

Zhang said the newly registered small and micro-businesses employ 7.9 people on average compared with an average of 2.9 people for individual businesses.

"More than 14 million jobs were created in 2015 by newly registered companies, compared with 12 million in 2014," he said.


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