Trade & Investment

China sees 10,000 new firms every day: official

Updated: 2015-10-12
Share this news?...Click box   Bookmark and Share
Read more on: Chinese economy   Chinese companies  
China sees more than 10,000 firms born every day amid government support for entrepreneurship, a vice minister said on Saturday.

Most of the firms are small enterprises. Data was collected last March through the end of August this year and about 6 million firms were registered during the period, said Xin Guobin, vice minister of Industry and Information Technology.

The government has been cutting taxes and fees, helping small firms save about 48.6 billion yuan (7.93 billion U.S. dollars) in the first half of the year, Xin said.

Lending to small firms stood at 16.2 trillion yuan at the end of June, up 14.5 percent from last year, Xin said.

However, he admitted small firms are facing challenges amid economic slowdown, slumping product prices, rising costs and production overcapacity.
 
SOURCE: en.ce.cn
 
Editorial Message
This site contains materials from other clearly stated media sources for the purpose of discussion stimulation and content enrichment among our members only. 
whatsonxiamen.com does not necessarily endorse their views or the accuracy of their content. For copyright infringement issues please contact editor@whatsonxiamen.com
 
Share this news?...Click box   Bookmark and Share
Comments Area ( Total Comments: 0 )