2018

11-27

14:55

Source:
Xinhua

Chinese startups creating more jobs: report

BEIJING, Nov. 27 (Xinhua) -- Chinese startups are becoming more successful in creating jobs, and entrepreneurs more highly educated, the China Daily reported Tuesday.

About 27 percent of companies can offer six or more jobs last year, seven percentage points higher from 2006, according to the 2017/2018 China Report from the Global Entrepreneurship Monitor.

Between 2002 and 2017, the proportion of highly educated entrepreneurs also climbed. The report also found that there were more people with high incomes starting their own businesses.

The Entrepreneurship Research Center on G20 Economics, an affiliate of Tsinghua University conducted the survey, said the newspaper.

The report found Chinese entrepreneurs aged 25-34 are the most active entrepreneurs, the same as global trend. Over 60 percent of Chinese respondents said they have started businesses in pursuit of an opportunity rather than out of necessity.

It said the overall entrepreneurial environment has been optimized, in terms of tangible infrastructure, market openness, cultural and social norms.

According to the Tsinghua report, more than 60 percent of Chinese entrepreneurs operated wholesale or retail businesses. In comparison, there were a smaller proportion of Chinese engaged in higher-value business industries, such as information, communications, financial and professional services.

The uptrend of China's startup activities was fueled by the country's steadfast commitment to fostering innovative ideas and entrepreneurial spirit. In 2014, the government proposed mass entrepreneurship and innovation, which has been viewed as a new engine for China's economic growth.

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