China's business entities showed steady development and increased capacities in 2023, according to data from the State Administration for Market Regulation.

New business entities

Some 32.73 million new business entities were established in 2023, a 12.6% increase year on year. Of these, new companies rose by 15.6% to exceed 10 million, and individually owned businesses climbed by 11.4% to 22.58 million.