Registration reform leads to more private start-ups in Jiangsu

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A total of 128,500 private enterprises newly registered in Jiangsu in the first half of this year with a total registered capital of 352.86 billion yuan ($56.83 billion), which indicates a year-on-year growth of 22.15 percent in amount of newly-registered enterprise and a year-on-year growth of 30.74 percent in registered capital, according to the latest statistics data released by the Industrial and Commercial Bureau of Jiangsu Province.

The data shows that more private capital has been invested in the market since the reform of capital registration system which was launched on March 1. Jiangsu has seen 83.33 percent growth in monthly average of newly-registered private enterprises and 92.30 percent growth in monthly average of registered capital during the period from March to the end of June, compared with the first two months of the year.

The newly-registered private enterprises come from 19 sectors, of which 17 ones, especially cultural and entertainment sector and high-tech sector, saw remarkable growth in new registration. Besides, Suzhou, Nanjing and Wuxi come out as the top three in number of newly-registered companies. And northern Jiangsu has an obviously higher year-on year growth than southern Jiangsu.