Number of individual businesses top 119 mln in China

BEIJING, July 12 (Xinhua) -- A total of 119 million individual businesses had been registered in China by the end of June this year, accounting for 67.4 percent of business entities nationwide, said the State Administration for Market Regulation (SAMR) on Wednesday.

Individual businesses saw a prominent trend of recovery and stable development in the first six months, the SAMR said. About 11.37 million companies were newly registered, representing a year-on-year expansion of 11.3 percent.

Of the 119 million businesses, 90 percent are from the tertiary industry, and 42.8 percent are from the country's eastern regions.

Individual businesses operating in emerging service industries, including information and technology, culture, sports, and entertainment sectors, registered a strong growth momentum in the first half of the year, said the administration.