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18,000 New Businesses Open Every Day: China by Numbers

Published 03/05/2019, 12:23 AM
Updated 03/05/2019, 12:50 AM
© Bloomberg. Pedestrians past food stores in Beijing, China, on Friday, Feb. 15, 2019. With a continued slowdown in industrial output and consumption, a further deceleration in China's economy will hurt demand for imported goods. Photographer: Qilai Shen/Bloomberg

(Bloomberg) -- China’s annual work report is littered with some eye popping numbers.

Here’s a few highlights that illustrate the enormity of the continent-sized economy and the transformation it’s undergoing.

  • Gross domestic product grew by 6.6 percent last year to exceed 90 trillion yuan. That represents a 10-fold increase over the past 20 years
  • A further 13.61 million new urban jobs were added last year. That’s more than the entire population of Belgium
  • An average of over 18,000 new businesses opened DAILY last year, taking the total number of market entities past 100 million
  • More than 6.2 million housing units were rebuilt in rundown urban areas and 1.9 million dilapidated rural houses were renovated
  • Close to 14 million people originally from rural areas gained permanent urban residency
  • Another 4,100 kilometers of high-speed railways opened to traffic -- that’s about a third the diameter of planet Earth. Over 6,000 kilometers of expressways and more than 300,000 kilometers of rural roads were built or improved -- add those together and you’ve almost reached the moon
  • The number of people in China aged 60 and above has reached 250 million. If China’s grey population were a country, it would be the world’s fifth biggest by people.

© Bloomberg. Pedestrians past food stores in Beijing, China, on Friday, Feb. 15, 2019. With a continued slowdown in industrial output and consumption, a further deceleration in China's economy will hurt demand for imported goods. Photographer: Qilai Shen/Bloomberg

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