China's Market Entities Show Improved Structural Quality in First Half of 2024

Deep News
08/09

Data released by the State Administration for Market Regulation on August 8 reveals that China's market entity structure continued to improve in the first half of this year, driving the economy toward innovation, improvement, and high-quality development.

Newly established enterprises in the "eight major emerging industries," represented by next-generation information technology and high-end equipment manufacturing, as well as the "nine future industries," including humanoid robots and generative artificial intelligence, totaled 561,000, maintaining a steady growth trend. Among these, 55,000 new enterprises were recorded in the generative AI sector, up 28.0% year-on-year, while 116,000 new enterprises were established in the humanoid robot sector, up 9.5% year-on-year, accelerating the formation of new economic growth points.

In the first half of the year, new consumption formats showed strong vitality, with the service industry adding 3.957 million new enterprises. Within this, the cultural tourism sector saw 1.475 million new related enterprises.

Additionally, high-tech manufacturing experienced robust growth. The spacecraft and launch vehicle manufacturing sector, along with the optical fiber and cable manufacturing sector, saw new enterprise registrations increase by 185.7% and 129.4% year-on-year, respectively.

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