BEIJING, 22nd April, 2025 (WAM) -- 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 the State Administration for Market Regulation on Monday.
In the first quarter, 1.979 million new private enterprises were registered, reflecting a year-on-year increase of 7.1 percent and surpassing the average growth rate observed over the past three years.
As of the end of March, the total number of registered private enterprises exceeded 57 million, representing 92.3 percent of all businesses nationwide, as stated in the report.
According to Global Times, new quality productive forces have become a 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 more than 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 the number of digital product services companies nearly 2.5 times higher than a year earlier. As of the end of March, China had 22.68 million private firms in the "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 next-generation information technology, 46,000 in high-end equipment manufacturing, 254,000 in AI software development and more than 10,000 in the silver economy.