More companies were registered in China in April after the country eased market access amid slowing economic growth, the official Xinhua News Agency reported Monday, citing data from the State Administration for Industry and Commerce.
Around 367,200 companies were established last month, nearly 20 percent higher than that of March, SAIC data showed.
The number of new firms seeking registration started to surge in March after minimum registered capital requirements for some types of businesses were canceled and annual inspections were replaced by companies’ annual reports, the report said.
“The reform measures stimulated market vitality, as a new wave of business start-ups emerged,” Wang Yukai, vice president of China Society of Administrative Reform, was quoted as saying.
By the end of April, the number of enterprises in China reached 15.91 million with combined registered capital of 103.73 trillion yuan (US$16.83 trillion).
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