China's business entities reach 188 million, up 3.9% year on year

China's total number of business entities had reached 188 million by the end of September 2024, marking a 3.9-percent year-on-year rise, the State Administration for Market Regulation said on Friday.

Of this total, 60.2 million were companies while over 125 million were self-employed businesses, increasing by 6.1 percent and 3 percent year on year, respectively.

A slew of policy measures to expand domestic demand, boost confidence and energize various market players have fueled growth in the number of business entities in China in the first three quarters of this year.

During the period, the country recorded about 20.7 million newly registered business entities – sustaining robust expansion.

Growth in the number of new business entities remained balanced across regions, accompanied by a continued shift towards a more optimized industrial structure across primary, secondary and tertiary sectors, the administration added.