The figures released by the SAMR have positive implications as China’s macroeconomy faced a setback in the second quarter in part because of domestic COVID-19 outbreaks and global uncertainty, according to Chinese media reports.
Moreover, new business registration growth soared by 19.7 per cent in June 2022 after a slump in April 2022. Around 300 million people in China were able to have job opportunities thanks to the registered market entities. The government collected taxes amounting to 4.76 trillion yuan (around $689.1 billion) from businesses that were set up after 2013.
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