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China’s new companies surge 19.3% in Q1-Q3

Updated: Oct 15,2015 10:09 AM     Xinhua

BEIJING — There were 3.16 million new company registrations in China from January to September in 2015, up 19.3 percent from a year ago, according to the latest data released on Oct 14 by the State Administration for Industry and Commerce.

The tertiary industry saw 2.55 million companies newly registered, of which 171,000 involve modern services like information technology in Q1-Q3 this year, said the administration.

Private enterprises took up 90 percent of the total newly registered companies. By the end of last month, employees in the private sector hit 273 million, up 8 percent from last year.

New market entities totaled 10.66 million with registered capital of 20.7 trillion yuan ($3.26 trillion), up 15.8 percent and 40.9 percent year on year, respectively.

By the end of September this year, China had 75.11 million market entities, 8.4 percent higher than last year, said the data.