BEIJING, Dec. 9 -- The numbers of China's private companies and self-employed households have grown rapidly over the past 40 years of reform and opening up, according to the State Administration for Market Regulation (SAMR).

By the end of October 2018, China has 71.37 million self-employed households and 30.67 million private companies, growing at least 500-fold and 338-fold, respectively.

China only had 140,000 self-employed households in 1978 when it launched its reform and opening up. And the number of private companies on registration was 90,500 in 1989.

The numbers of private economic entities boomed during the past decades as the government kept improving business environment, including loosening restrictions on business registration.

The private sector now plays an important role in the Chinese economy, contributing to more than half of tax revenue, 60 percent of the gross domestic product (GDP), 70 percent of technological innovation and new products, 80 percent of urban employment and 90 percent of new jobs.

【国内英语资讯:Chinas private companies, self-employed households flourish in past 40 years】相关文章：

★ 西方报业危机蔓延

★ 高科技企业到底有哪些移动业务？

★ 英国全民打赌：谁为准王妃凯特做嫁衣

★ 美枪击案嫌犯：母亲是与外界联系的通道

★ 盘点2011-《时代》十大消费电子设备

★ 北京安检可能减少奥运乐趣

★ 投资东南亚股市须谨慎

★ Wii U在美上市首周频频脱销

★ 浪费公共厕纸行为引发中国网民大讨论

★ 小心Facebook泄露你的隐私