Non-State-owned enterprises drive China's economy

Non-state-owned enterprises have become the driving force for China's economy, as more than half of the GDP and 62 percent of export revenue come from the sector.

Deputy Director of the National Bureau of Statistics Qiu Xiaohua says two-thirds of the economic growth is driven by non-state-owned enterprises, China Radio International reported Monday.

He explains that private Chinese enterprises, foreign enterprises and share-holding companies are the three major non-state-owned sectors.

Ninety percent of China's top 500 medium and small enterprises are privately owned.

Revenue for the top 500 enterprises increased by 10 per cent last year, indicating their importance for China's rapid economic growth.

China currently has 10 million registered medium and small enterprises, employing over 70 percent of the countries labor force.

Source: CRIENGLISH.com