China adds nearly 20m enterprises during 14th Five-Year Plan period

BEIJING - China has registered a net increase of nearly 20 million enterprises since the beginning of the 14th Five-Year Plan period (2021-2025), the State Administration for Market Regulation said on Friday.

Since the launch of the 14th Five-Year Plan, China's business environment has continued to improve, thereby fully stimulating entrepreneurial vitality across society, Luo Wen, head of the administration, said at a news conference highlighting the country's achievements during this period.

The country also recorded a net increase of approximately 34 million self-employed households during the same five-year period, Luo added.

To effectively safeguard fair competition and market order, the administration has intensified its crackdown on market monopolies, Luo said. Specifically, it has improved risk monitoring and assessment in key sectors, strengthened regular oversight of the platform economy, and drawn clear lines to prevent unfair competition in the online market, according to Luo.

During the five-year period, the administration has continuously optimized its regulatory mechanisms, the official said, noting that efforts are underway to streamline approval procedures and reduce corporate costs.

Additionally, it has taken multiple steps to support enterprises in pursuing quality-focused development. For instance, it has provided tailored assistance programs and loan support aimed at improving corporate quality.

Looking ahead, Luo said the administration will continue to advance fair and unified market regulation, and consistently enhance standardized, impartial and civilized law enforcement - thereby contributing more to creating a market-oriented, law-based and internationalized business environment.