Official data from China’s market regulator puts the number of individual industrial and commercial registrants in the country at more than 100 million, accounting for the greater majority of its market entities.
“As of the end of last year there were 103 million individual industrial and commercial registrants registered throughout the country,” said a spokesperson from State Administration for Market Regulation (SAMR) at a recent press conference.
“Breaching 100 million registrants is an historic breakthrough…they account for approximately two thirds of market entities.”
SAMR data further indicates that 90% of individual industrial and commercial registrants are concentrated in the services sector, in areas including wholesale and retail, accommodation and catering, and residential surveys.
Individual industrial and commercial registrants also involve 2.68 people on average, accounting for 276 million jobs in China.
In 2021 new individual industrial and commercial registrants in China totalled 19.701 million, for a year-on-year rise of 17.2%, as compared to average annual growth of 11.8% during the period from 2012 to 2021.
