{"id":40006,"date":"2025-04-22T03:29:07","date_gmt":"2025-04-22T03:29:07","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/40006\/"},"modified":"2025-04-22T03:29:07","modified_gmt":"2025-04-22T03:29:07","slug":"china-adds-nearly-2-million-private-firms-in-first-quarter-as-calls-for-support-rise","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/40006\/","title":{"rendered":"China adds nearly 2 million private firms in first quarter as calls for support rise"},"content":{"rendered":"<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">The number of newly established private companies in China grew by 7.1 per cent in the first quarter from a year earlier, in what is being seen as a sign of resilience as the private sector bears the brunt of the fallout from the US-China trade war.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">Nearly 1.98 million private firms were registered in the first three months of the year \u2013 a growth pace higher than the average in the past three years, China\u2019s top market regulator announced on Monday.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">This reflects the \u201cstrong resilience\u201d of China\u2019s private economy, the State Administration for Market Regulation said, though it did not disclose numbers on closures and bankruptcy.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">In total, there were more than 57 million registered private enterprises nationwide as of the end of March, accounting for 92.3 per cent of all enterprises, according to the administration.<\/p>\n<p>China\u2019s private businesses are expected to be hit hard by the <a target=\"_self\" class=\"e1yy41x40 ef9u0v01 css-1ankfgb ecgc78b0\" href=\"https:\/\/www.scmp.com\/economy\/global-economy\/article\/3307270\/china-says-trump-trade-tactics-will-backfire-bargaining-tiger-its-skin?module=inline&amp;pgtype=article\" data-qa=\"BaseLink-renderAnchor-StyledAnchor\" rel=\"noopener\">up-to 245 per cent tariffs<\/a> that the US says it has imposed on China, as those firms contribute to more than half of the country\u2019s exports.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">They reported an export and import value of 5.85 trillion yuan (US$803 billion) in the first quarter, up 5.8 per cent, year on year, Chinese customs data showed. They also accounted for 56.8 per cent of the total trade value in the period \u2013 an increase of 2.4 percentage points from a year earlier.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">\u201cCompared with state-owned enterprises, private and small businesses are more vulnerable to US \u2018reciprocal tariffs\u2019,\u201d Zhang Xu, an analyst with Everbright Securities, wrote in a note in early April.<\/p>\n","protected":false},"excerpt":{"rendered":"The number of newly established private companies in China grew by 7.1 per cent in the first quarter&hellip;\n","protected":false},"author":2,"featured_media":40007,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3090],"tags":[51,1395,22780,1700,22781,22784,22782,22783,22785,17471,15400,22786,16,15,8013,22779],"class_list":{"0":"post-40006","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-china","10":"tag-chinese-customs","11":"tag-economy","12":"tag-everbright-securities","13":"tag-national-peoples-congress","14":"tag-private-economy","15":"tag-private-enterprises","16":"tag-private-firms","17":"tag-private-investment","18":"tag-reciprocal-tariffs","19":"tag-state-administration-for-market-regulation","20":"tag-uk","21":"tag-united-kingdom","22":"tag-us-china-trade-war","23":"tag-zhang-xu"},"share_on_mastodon":{"url":"","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/40006","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=40006"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/40006\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/40007"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=40006"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=40006"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=40006"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}