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| China | |
Source: CHINA DAILY |
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Shanghai has 140,000 private firms The number of private firms in this port city reached 140,000 with about 1.7 million employees, according to the latest official statistics. The average registered capital for the private firms reached 960,000 yuan (US$115,000), according to statistics released by the Shanghai Municipal Administration of Industry and Commerce. The private economy, which accounts for 6.1 percent of Shanghai 's total, is regarded as another growth point of the local economy. Tax revenue from private firms and businesses during the past seven months of this year grew by 44 percent over the same period last year. Local government has promised a fair investment and business environment for the private economy in the coming years.
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