Entrepreneur’s paradise? Over 21 million new companies registered in China over four years

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February 10 , 2018 – FRN – 

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RIA – translated by Inessa Sinchougova

Over 21.5 million new companies have been registered in China after the government announced a new policy for creating favorable conditions for entrepreneurship in 2014.

The state gradually reduced taxes and eliminated bureaucratic barriers for enterprises, as well as reduced the amount of various duties and fees.

The massive and rapid development of entrepreneurship and innovation has become a significant impetus for economic growth, helping create new jobs and increase people’s incomes.

According to Xinhua, since 2014, over 4,000 new enterprises in the field of high technology alone were created, which serviced over 120,000 start-ups and earned about $ 870 million.

Another dynamically developing sector of the economy is trade, with the share of e-commerce increasing rapidly. In 2017, online sales in China increased by 28%, and the delivery of goods volume increased by 30%. 

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