(MENAFN) According to official figures, around 1.27 million new companies have been registered since China streamlined business registration in March to June, 66.85 percent higher over Q2 of 2013, QNA reported.
The Chinese State of Administration for Industry and Commerce said that registered capital of the new firms totaled USD1.06 trillion, up 56.9 percent on-year.
China eased restriction on minimum registration capital, payment deadlines and down payment ratio, aiming to encourage start-ups and energizing the economy, Xinhua news agency reported.
By the end of June, the number of all types of registered market entities in China reached 64.14 million, with registered capital amounting USD18.6 trillion.
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