Number of enterprises surge 36.1% since registration reform

A total of 123,300 enterprises had been newly registered in China in the two weeks since March 1, the launch of reform on the corporate registered capital system. The number of new enterprises surged 36.1 percent from a year ago, while the newly registered business entities stood at 468,400, up 7.48 percent year on year, according to China's State Administration of Industry and Commerce. The data also showed diversified growth rates in new commercial registrations in different regions and industries, while the sectors of energy, machinery and construction posed more evident reactions with faster expansion. China amended and abolished a number of business regulations so as to make the market more accessible and invigorate social investment. The amendments and abolitions, effective since March 1, lifted restrictions on minimum registered capital, payment deadlines, down payment ratios and cash ratios of registered capital.