The number of newly registered business entities in Shenzhen reached 237,209 in the first half of the year, an increase of 1.3 percent year on year.
Among it, the number of newly registered enterprises increased by 14.9 percent to 151,144, while the self-employed business entities dropped by 16.1 percent to 86,065.
By the end of June, the total number of business entities in Shenzhen reached 3.4 million, statistics from the city’s enterprises registration bureau showed Wednesday.
In June alone, the number of newly registered business entities increased by 31.5 percent to 53,389, including 32,658 enterprises, up by 38.1 percent, and 20,731 self-employed entities, up by 22.2 percent.
Based on the number of permanent residents, 13.43 million, which was announced by Shenzhen Municipal Statistics Bureau at the end of 2019, there are 253 business entities for every 1,000 people. The total number of business entities and the density of entrepreneurs are both the highest among Chinese cities.
Among the newly registered business entities between January and June, the entities engaging in tertiary industry took up 90 percent of the total and most of them engaged in wholesale and retail, accommodation and dining, leasing, business services, information transmission, software and information services. The number of entities in wholesale and retail businesses take up half of the newly registered businesses in H1.
Between January and June, the number of registered enterprises in seven newly emerged industries like new-generation technologies, high-end equipment manufacturing, digital economy, biomedicine and new materials was 17,234, up by 38.5 percent over the same period of last year.
The development of seven newly emerged industries reserves new momentum for the city’s economic development. The rise of business registrations has showed Shenzhen’s economic situation had climbed up from the bottom and is back on a normal track. What is noteworthy is the newly registered business entities in the service industry, the major industry in absorbing employment, was 224,713, taking up 94.7 percent of total newly registered businesses in H1.