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China soon to have 100m business entities

Updated: Mar 2,2018 10:18 AM     Xinhua

BEIJING — The number of business entities in China is likely to hit 100 million this month.

Currently, China has about 99.6 million business entities, including business enterprises, individually-owned business and rural cooperatives, Zhang Mao, head of the State Administration for Industry & Commerce, told a news conference.

The creation of new business entities has expanded from 31,000 a day in 2013 to the current 52,000 a day.

China has moved to optimize business environment as the foundation of a modern economy and high-quality development.

The government has simplified administrative reviews; approvals for new businesses; tax payments; applications for permits; water, electricity and gas services; and real estate registration.