Number of Zhejiang-based market entities nears 9m

The Zhejiang Administration for Market Regulation recently published data related to the province's market entities.

As of the end of 2021, Zhejiang was home to 8,684,700 market entities, up 8.12 percent from the year before. The proportions for those in the primary, secondary, and tertiary industries were 2.5 percent, 17.66 percent, and 79.84 percent, respectively.

More than 60 percent of the new market entities established in 2021 were based in the four Zhejiang cities of Hangzhou, Jinhua, Wenzhou, and Ningbo.

Among all Zhejiang cities, Ningbo, a prosperous manufacturing hub, had the highest year-one-year growth rate in number of new market entities (16.69 percent) in 2021.

Foreign investors registered a total of 4,653 market entities in 2021, up from 3,319 in 2020. On the other hand, they cancelled 2,912 market entities in 2021, down from 6,193 in 2020.

As of the end of 2021, Zhejiang was home to 3,137,900 corporations, up 11.26 percent from the year before. The 2021 figure for micro and small-sized companies was 2,826,100, up 13 percent year-on-year.

Around half a million micro and small-sized companies were established in Zhejiang in 2021, while 256,800 such companies were cancelled in the same year.

Throughout 2021, Zhejiang saw the registration of 1,125,200 individual businesses, down from 1,179,500 in 2020, as well as the closure of 800,400 individual businesses, up from 643,900 in 2020.