The number of new taxpayer entities in China rose last April, as the country’s economy continued to recover.
Data from the National Tax Authority showed that “a total of 1.48 million new market entities dealing with tax-related work were registered last month, an increase of 28.8% over the corresponding month last year.”
The number of newly registered companies was 710 thousand, representing a 25.65 year-on-year rise. The number of new individual companies reached 759 thousand in the month, an increase of 33.6% on an annual basis.
The total number of new market entities owned by foreign investors dealing with tax-related business reached 6,000 last April, up 87.9% year on year, while the number of new privately owned market entities increased by 28.7% to more than 1.46 million.
In particular, the number of new market entities in the transport, leasing, business services, hotels and restaurants sectors has grown rapidly in the past month.
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