Hunan had 6.3539 million registered and valid market entities in 2022, a year-on-year increase of 16.35%. Among them, there were 1.5781 million enterprises, up 26.66% year on year. The growth rate of enterprises ranked first among the six provinces in central China. The Administration for Market Regulation of Hunan Province announced the data on February 1, 2023.

Last year, the Administration for Market Regulation of Hunan Province played a leading role in reforming business registration and supporting the development of self-employed businesses. The whole province has coordinated and promoted reforms to streamline administration and delegate power; optimized the business environment; and, established the "Five-good" industrial parks and zones. It has carried out pilot reforms such as market entities' closure relief assistance, transformation of self-employed businesses to enterprises, compulsory cancellation, business registration confirmation system, and access to the market with a prior commitment in 13 cities and one prefecture. It has also made efforts to promote "One-stop Services" and "One-step Approval Process" on the establishment, modification, cancellation, and joint license approval of market entities. The provincial comprehensive online handling rate of enterprise incorporation reached 80.97%.

Hunan Province has rolled out 22 measures to help self-employed businesses tide over difficulties; carried out service month campaign for them; and, signed strategic cooperation agreements with 21 banks, to promote financial institutions to increase financial support for them. By the end of 2022, there were 4,656,233 self-employed businesses in Hunan Province, increasing by 13.6% year on year, which effectively guaranteed the high-quality development of market entities.

This article is from the Hunan Provincial Government www.enghunan.gov.cn.

Translator: Yu Jiangjiang

Chinese source: hunan.gov.cn