A foreign merchant purchases sporting goods in Yiwu, Zhejiang province, in January. [Photo provided to chinadaily.com.cn]

By the end of 2024, Zhejiang province recorded 10.95 million registered business entities, according to the Administration for Market Regulation of Zhejiang Province on Jan 8.

The province saw a 5.9 percent year-on-year growth, with enterprises reaching 3.81 million, up 5.67 percent, and individual businesses at 7.10 million, up 6.12 percent.

Foreign investment is thriving, with 49,000 foreign-invested enterprises marking a 5.45 percent increase year-on-year. This includes 5,639 new registrations, despite 2,645 closures.

A survey of 60,700 individual businesses in the fourth quarter of 2024 showed a 12.30 percent rise in average profits, supporting nearly 14 million jobs, or over 30 percent of the province's workforce.