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Qingdao adds 131,937 new market entities in H1

(chinadaily.com.cn) | 2022-07-14

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Qingdao boasts a vibrant economy. [Photo provided to chinadaily.com.cn]

In the first half of this year, 131,937 new market entities were established in Qingdao, indicating market vitality in the eastern coastal city.

Since the beginning of this year, and in the face of the multiple pressures from shrinking demand, supply shocks and weakening expectations amid the resurgence of domestic COVID-19 cases, as well as a more complicated and grimmer external environment, Qingdao has introduced a series of targeted measures to help small, medium and micro enterprises and individual industrial and commercial households take care of these burdens.

According to the municipal market regulation bureau, by the end of June, there were over two million real market players in the city, up 5.79 percent year-on-year.

In terms of the composition of market players, there were 750,512 enterprises, up 7.19 percent year-on-year, accounting for 37.51 percent. The numbers of individual industrial and commercial households and specialized farmer cooperatives were 1.23 million and 17,634, respectively.

The West Coast New Area has the highest number of real market players at 382,400.