Over 21.5 million new companies are registered in China after the government announced in 2014 a new policy to support and create favorable conditions for the development of entrepreneurship and innovation. This is reported by Xinhua, quoted by BGNES.

The state gradually reduces taxes and removes bureaucratic barriers to businesses and reduces the amount of different taxes and fees.

As the agency notes, the large-scale and rapid development of entrepreneurship and innovation has spurred the growth of the economy and also helped create new jobs and increase people's incomes.

According to Xinhua, over 4200 new high tech enterprises have been created since 2014.

One of the most dynamically developing sectors of the economy is trade, with the share of e-commerce increasing.