By Zhou Jianqi, Research Institute of Enterprises; Li Chengjian, Research Department of Macro Economic, DRC

Research Report, No.265, 2021 (Total 6330) 2021-9-14

Abstract: This report, centering on the number of newly-registered companies in the first half of 2021, puts emphasis on analyzing the dynamism and the development of major industries. In the first half of 2021, the number of newly-registered enterprises have presented an increase of about 33% on the basis of last year and nearly 50% compared to that of 2019. More than half of the enterprises are located in a few provinces and cities in the Pearl River Delta and the Yangtze River Delta with Guangdong Province taking up 14.6%, the four provinces and cities in Yangtze River Delta, 23.0% and their neighboring Shandong and Henan Provinces, 14.5%. Guangdong Province serves as the highland for the development of high-tech and newly-emerged industries, while the Yangtze River Delta, Shandong and Henan Provinces have shown echelon cooperation within the region. In light of the industrial drivers, the newly-registered enterprises in service industry grows much faster than those in manufacturing sector. Cities like Beijing and Shanghai mainly involve in service industry; provinces including Hebei and Jiangsu and so on focus on developing manufacturing industry. Unlike above-mentioned cities and provinces, Guangdong, Zhejiang, Shandong, Anhui and other places have attached equal importance to both of the industries. However, some provinces and cities in the mid- and western regions as well as northeast China have lagged relatively behind, calling for tailored measures to promote the vitality of enterprise development.

Keywords: regional development, regional diversification, newly-registered enterprises, relatively fast growth