China's Business System Reform Boosts Entrepreneurship, Employment
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An illustration shows China's determination to step up efforts on business system reform. [Photo: sbo8.com]

Administrative streamlining is being pointed to as one of the main factors behind a new set of business-growth figures.

Zhang Mao, head of the State Administration for Industry and Commerce, says analysis is suggesting the business reform strategy currently being implemented helped increase GDP growth by 0.4 percent this past year.

"According to the World Bank report on business environment, China ranks 84th among 189 economies in terms of business environment. During the two years of the business system reform, China's ranking has advanced by six positions each year."

Figures compiled by the SAIC suggest three-in-four new businesses in China were created in the service sector last year.

Since launching its administrative reform strategy in 2013, Chinese authorities say the number of new businesses launched on a daily basis have risen from 69-hundred to 12-thousand over the past 2-years.

Author： 　　　Source：CRI　　　 Editor：Yang Fan