LINE

Text:AAAPrint
Economy

Reform and opening-up sees market entity surge in China

1
2018-12-26 08:29:00Xinhua Editor : Mo Hong'e ECNS App Download
Special: 40YearsOfReform

The reform and opening-up has unleashed market vitality in China, with the number of its market entities rocketing during the past 40 years.

The number of China's market entities surged from 490,000 at the early stage of the reform and opening-up to 109 million at the end of November this year, Ma Zhengqi, deputy head of the State Administration for Market Regulation, said at a press conference Tuesday.

A breakdown of the data showed individual and private market entities accounted for 95 percent of the total, more than 60 percent of the country's GDP and more than 80 percent of total employment in urban areas, Ma said.

As the country seeks to shift the economy toward a growth model that draws more strength from services, the tertiary industry has seen fast expansion, with the number of market entities in the sector accounting for 77 percent of the total.

Ma said the administration will continue to promote reforms to streamline regulation and delegate powers, improve regulation and optimize services as well as deepen reform to improve the country's business environment. Enditem

Related news

MorePhoto

Most popular in 24h

MoreTop news

MoreVideo

News
Politics
Business
Society
Culture
Military
Sci-tech
Entertainment
Sports
Odd
Features
Biz
Economy
Travel
Travel News
Travel Types
Events
Food
Hotel
Bar & Club
Architecture
Gallery
Photo
CNS Photo
Video
Video
Learning Chinese
Learn About China
Social Chinese
Business Chinese
Buzz Words
Bilingual
Resources
ECNS Wire
Special Coverage
Infographics
Voices
LINE
Back to top Links | About Us | Jobs | Contact Us | Privacy Policy
Copyright ©1999-2018 Chinanews.com. All rights reserved.
Reproduction in whole or in part without permission is prohibited.