“By the end of March, the total number of market players in the country hit a peak, reaching 100.2 million,” an official from the State General Administration of Market Supervision stated.
In the first quarter, there were 3.78 million new market players, an increase of 4.9 percent year-on-year.
Structurally, newly established enterprises in the service industry experienced rapid growth, while the manufacturing industry saw negative growth, decreasing by 1.9 percent year-on-year. As for new foreign-funded enterprises, 22,000 were established, an increase of 90.7 percent year-on-year.
To some extent, the rapid development is attributed to the continuing optimization of market access. Commercial system reform has significantly reduced the time for enterprises to start up, and industrial production permit system reform is also moving forward.
To create a favorable environment requires effective market supervision. In the first quarter, national market supervision was strengthened, as 150,000 cases in violations of laws and regulations were investigated and handled.
The long-term mechanism for supervision of corporate credit was also improved.
“The national market supervision system will continue to strengthen the supervision and enforcement of laws in key areas,” said the official from the State General Administration of Market Supervision.