China’s market economy is experiencing significant growth, with private enterprises leading the way in innovation and development. Recent policies have created a supportive environment for businesses, fostering transparency and predictability for investors.
By the end of September 2024, there were over 180 million private economic entities in China, accounting for more than 96% of all business entities. This marks a year-on-year growth of nearly 4%, highlighting the nation’s commitment to improving its business landscape.
The private sector plays a crucial role in promoting economic growth, employment, and optimizing industrial structures. In industries like wholesale and retail, private businesses make up almost 98% of operations, reflecting a vibrant and dynamic market.
China continues to deepen market-oriented reforms and expand its openness to the global economy. Efforts such as streamlining administration, delegating powers, and protecting intellectual property rights have attracted global investors and entrepreneurs.
Significant investments in research and development, totaling 3.3 trillion yuan in recent years, exceed the average level of EU countries. This commitment to innovation has led to the rise of new technologies, industries, and business models.
By signing free trade and investment agreements, China provides more convenient conditions for international trade and investment, reducing barriers and promoting global economic stability.
Reference(s):
cgtn.com
