100,000-plus market entities registered in Ningbo in H1

chinadaily.com.cn| Updated:  July 30, 2021 L M S

A total of 107,400 market entities were registered in Ningbo, East China's Zhejiang province in the first half of this year, an uptick of 24.49 percent year-on-year, according to data from the Ningbo municipal bureau of market supervision.

The figure also represented a daily increase of 593 market entities in the city from January to June.

As of the end of June, Ningbo was home to 1.1552 million market entities, up 9.84 percent year-on-year.

The top five investment industries during the six-month period were wholesale and retail, leasing and business services, manufacturing, scientific research and technical services, and construction, with the combined number of registered market entities accounting for 77.4 percent of the city's total.

The top five places in the city in terms of the number of newly registered companies were Yinzhou district, Haishu district, Cixi city, Yuyao city and Jiangbei district.

Local authorities have stimulated market vitality through measures including streamlining approval procedures for business registration and stepping up financial support for businesses.

Presently, all procedures required for business registration in Ningbo can be done online for free.

The city has since May been promoting the electronic production license for industrial products. To date, it has issued 29 such e-certificates.

The local government also promised in June that it would set aside an annual fund of 2 billion yuan ($307.7 million) to bolster the development of small and micro enterprises and individual businesses.

In the first half of this year, nearly 9,800 companies from the city applied for loans for the first time, with the credit granted totaling 49.5 billion yuan.