China has 40.6 million private businesses
The number of individually owned businesses and private
enterprises in China exceeded 40.6 million at the end of January, state-run
news agency Xinhua reported the State Administration for Industry and Commerce
as saying Sunday.
Those businesses provide jobs for about 80 million people
and report two trillion yuan ($321 billion) in capital, Xinhua reported.
Ninety% of the individually owned concerns are in the
services sector, 8% are in secondary industry and 2% are in primary industry.
Half of the businesses are located in the eastern
regions, 30% are based in the central regions and 20% in the western areas.
Individually owned businesses and private enterprises
have been growing rapidly into a key source of China's economic growth, fiscal
revenue and employment, Xinhua said.
The country registered only 140,000 such private
businesses in 1978 before the number hit 31.6 million 1999. The SAIC started
clearing the "dead" members in counting from 2000 on.
The number of such businesses hit a low of 23.5 million
in 2004, but started to grow again rapidly.
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