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Chinanews, Beijing, Feb. 1 – Private economy kept developing rapidly at a rate faster than the national average economic growth rate in 2006 as it did in 2005.
The All-China Federation1 of Industry and Commerce released a report on the development of Chinese private economy in 2006. The report was announced at the China forum2 on the private economy situation held Wednesday in Beijing. The report says that in 2006, Chinese private enterprises grew drastically. By the end of 2006, there were 4.95 million registered private enterprises across the country, up 15% from the previous year and accounting3 for 57.4% of the total number of enterprises in China. The total registered capital of these private enterprises reached 7.5 trillion yuan, up 22% from the previous year. At present, there are 63.96 million employees working in private enterprises. In addition, the number of registered individual industrial and commercial businesses reached 25.76 million, up 3.8% from the previous year. Their total capital amounted to 651.5 billion yuan and the number of people in their employ reached 50.45 million. Last year, private enterprises in industrial sector4 developed rapidly and their trade volume grew substantially. Information from the China Customs Office shows that by the end of 2006, import and export trade volume of private enterprises reached 243.6 billion US dollars, 46.5% more than a year ago and 23 percentage points higher than the national average growth rate.
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