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China's private enterprises show strong resilience with 7.1% registration growth in Q1(Global Times) 15:36, April 21, 2025
China's private sector showed strong resilience in the first quarter of 2025, with new business registrations rising steadily, according to a report released by State Administration for Market Regulation on Monday.
In the first quarter, China registered 1.979 million new private enterprises, up 7.1 percent year-on-year and exceeding the average growth rate of the past three years. By the end of March, the number of registered private enterprises surpassed 57 million, accounting for 92.3 percent of all businesses nationwide, according to the report.
New quality productive forces have become a key highlight for China's private sector. In the first quarter, 836,000 new private firms were registered in the "four new economies" — new technologies, industries, business formats, and models — accounting for over 40 percent of new private enterprises.
Internet and modern information services posted the fastest growth at 18 percent. Digital economy firms reached 274,000, with number of digital product services companies nearly 2.5 times higher than last year. By the end of March, China had 22.68 million private firms in "four new" sectors, driving high-quality growth.
Through digital transformation, green and low-carbon initiatives, and global expansion, private enterprises are steadily enhancing their core competitiveness. In the first quarter, 94,000 new private firms were registered in new-generation information technology, 46,000 in high-end equipment manufacturing, 254,000 in AI software development, and over 10,000 in the silver economy. Private firms also showed vibrant growth in areas such as civil aviation, quantum information, and humanoid robotics.
Self-employed businesses are showing strong internal momentum. In the first quarter, China registered 3.949 million new self-employed businesses, including 263,000 in the primary sector, 193,000 in the secondary sector, and 3.493 million in the tertiary sector. By the end of March, the number of self-employed businesses in the tertiary sector reached 111 million, accounting for nearly 90 percent of the total.
By the end of the first quarter, China had classified 64.38 million self-employed businesses as survival-type, accounting for 83.1 percent, 10.04 million as growth-type, making up 13.0 percent, and 3.04 million as development-type, representing 3.9 percent. Additionally, 142,000 businesses were recognized as premium and innovative. This classification and targeted support have effectively guided policy implementation and fueled the growth of self-employed businesses.
(Web editor: Zhong Wenxing, Liang Jun)
