Self-employed, private companies create third of jobs in ChinaStaff writer ▼ | February 9, 2016
Self-employed people and private companies create a third of the jobs in China, according to the State Administration for Industry & Commerce (SAIC).
Asia According to the State Administration for Industry & Commerce:
A SAIC study showed that about 90 percent of new jobs in urban areas can be attributed to the self-employed and private firms.
By the end of 2015, 116.8 million self-employed jobs were created, up 47 percent from 2011, while private firms created about 163.9 million jobs, up 58 percent from 2011, official data showed.
The two sectors have been seeing rapid economic growth and more job creation since the government launched a campaign to streamline the administration and delegate power to lower levels, starting a reform for the country's business registration system in 2014.
By the end of 2015, there were 54.08 million self-employed businesses in China, up 44 percent from 37.56 million in 2011. Over the period, the number of private firms almost doubled to 19.08 million, SAIC data showed. ■