Start-up facilitation boosts Harbin's business development

In recent years, Harbin, the capital of China's northernmost Heilongjiang province, has introduced innovative initiatives to support new businesses. These actions have fostered a welcoming environment for entrepreneurs and have breathed new vitality into the city's economic development.

According to data from the Harbin market regulation bureau, as of the end of June 2023, the total number of market entities in the city reached 1.12 million, a year-on-year increase of 4.72 percent, accounting for 34.93 percent of the total number in the province.

Among them, the number of newly registered enterprises in the city has significantly increased, with 24,177 new registrations, a year-on-year growth of 25.64 percent, which is 12.14 percentage points higher than the provincial average.

In the first half of this year, there was a substantial increase in the number of newly registered domestic, private, and foreign-funded enterprises in Harbin, with year-on-year growth rates of 57.8 percent, 23.93 percent, and 97.06 percent, respectively.

The structure of market entities has been further optimized, with the proportion of newly registered enterprises to the total number of newly registered market entities increasing from 19.38 percent in the first half of last year to 29.27 percent.