China’s economy is recovering, and it’s showing in the number of new businesses being registered. In April, the country saw a 28.8% increase in new market entities handling tax-related business, compared to the same month last year. This brings the total number of new businesses registered in April to 1.48 million.
Of these new businesses, 710,000 were companies, while 759,000 were individual businesses. The number of new market entities owned by foreign investors also increased, up 87.9% year-on-year to 6,000.
The transportation sector, leasing and business services, and accommodation and catering industries saw the most growth in new market entities. The administration said this is due to the continued recovery of the economy and the increasing demand for these services.
Overall, the increase in new market entities is a positive sign for the Chinese economy. It shows that businesses are confident in the future and are willing to invest in the country. This is good news for the Chinese people, as it means more jobs and a stronger economy.
