China's private businesses are providing jobs for about 100 million people, said Liu Yajun, director of the investment promotion department under the Ministry of Commerce on Thursday.

He made the remarks at an event held between China's private businesses and the Word's Top 500 Firms at Hangzhou, capital of east China's booming Zhejiang Province.

China's private businesses have been growing remarkably in recent years, with an average annual growth rate of 53 percent, Liu said.

Liu acknowledged that the private businesses are contributing more to the national economy, taking about 60 percent of the national economy and funds from private businesses take about 40 percent of the investment in urban fixed assets.

More capital-intensive and technology-intensive private businesses have emerged and been active in various industries in recent years, including real estate industry, information industry and the new-born service industries, Liu said.

Source: Xinhua