Number of private firms tops 57m

Private enterprises in China continued to expand steadily, amid government efforts to spur growth in both the private sector and the broader economy, data from the top market regulator showed on Monday. The number of private enterprises in the country exceeded 57 million by the end of March, accounting for 92.3 percent of all businesses nationwide, according to data from the State Administration for Market Regulation. In the first quarter, 1.979 million private companies were established, marking an increase of 7.1 percent from a year ago and outpacing the average growth recorded over the past three years, the SAMR said.

Loan prime rates remain unchanged

China's one-year loan prime rate, a market-based benchmark lending rate, came in at 3.1 percent on Monday, unchanged from the previous month. The over-five-year LPR, on which many lenders base their mortgage rates, also remained unchanged from the previous reading of 3.6 percent, according to the National Interbank Funding Center.

Xinhua - China Daily