A total of 19,333 new market entities are registered in East China's Ningbo in May, an increase of 10.1 percent year-on-year. [Photo/cnnb.com.cn]

A total of 19,333 new market entities were registered in East China's Ningbo in May, an increase of 10.1 percent year-on-year, official data show.

It is the first month that the city has reported positive growth in the number of market entities this year.

In 2019, the number of market entities in Ningbo exceeded one million, and that figure has since climbed to 1,048,392 as of the end of May, up 7.6 percent.

The fast growth in market entities reflects the strong vitality of the private sector, experts say. 

Among the newly established enterprises, those in the secondary and tertiary industries accounted for 99.4 percent, which were primarily engaged in sectors such as manufacturing, wholesale and retail, scientific research and technical services, leasing, and business services. 

The robust market is largely thanks to the city's optimized climate business and government services.

Local authorities have rolled out a series of measures to streamline approval procedures for company registration. In the first months of this year, the city handled 26,236 company registration applications online, accounting for 98 percent of the total number of start-ups in the same period. 

Ningbo ranked 10th among cities nationwide in terms of business climate in 2019, according to a recent report by China Central Television. 

The city, with a score of 79 points, moved up 10 places from 2018, indicating rapid improvement in its business climate.