Over 20 mln new companies registered in China in past 5 years

Updated 2018-02-11 14:16:06 Xinhua

Some 21.6 million companies were registered in the past five years in China, thanks to the government's push for entrepreneurship and innovation to bolster growth.

Since China introduced mass entrepreneurship and innovation policies in 2014, more than 4,200 new hackspace companies have been created, serving over 120,000 start-up businesses and raising over 5.5 billion yuan (870 million U.S. dollars)

In 2017, online sales increased by 28 percent and express delivery volume grew by nearly 30 percent. A string of new growth engines such as sharing and digital economies have been established.

The government has cut red tape, reduced taxes and slashed fees for enterprises.

Mass entrepreneurship and innovation has been an effective driver for both economic growth and the consistent transition between traditional and new growth engines. It has also significantly contributed to creation of new jobs and increase in income.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58February 22 2019 14:35:17

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16February 22 2019 14:35:17

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18February 22 2019 14:35:17

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

China World Business Sports Showbiz Audio
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
China World Fun Travel Entertainment Sports
Beijing Shanghai Guangzhou
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords