SHANGHAI – China, the leading economy with 1.409 billion population is experiencing an unprecedented entrepreneurial surge. Since launch of 14th Five-Year Plan in 2021, nearly 20 million new enterprises have been registered, showing dramatic rise in business activity.
The recent numbers were shared by the State Administration for Market Regulation (SAMR) announced Friday, as chief Luo Wen hailed the booming business environment, saying it has unleashed a wave of entrepreneurial energy across the nation.
The rise is not limited to companies as around 34 million self-employed households have also joined the ranks of independent earners.
But with growth, vigilance is mandatory. To protect fair competition, SAMR cracked down on monopolies, ramped up oversight of the platform economy, and imposed strict rules to curb online market abuses.
At same time, the administration made it easier to start and run business by streamlining approvals, cutting costs, and offering targeted support programs, including loans to fuel high-quality growth.
Looking forward, SAMR promises to push for a fair, law-based, and globally competitive market, ensuring that China’s entrepreneurial revolution continues without barriers.
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