The companies played a more important role in stabilizing growth, increasing employment, taxation contribution, entrepreneurship and innovation, rural revitalization, environmental protection and charity efforts, said the report released on Tuesday.
It was based on a questionnaire survey of over 20,000 private companies in China and field investigations of around 100 private firms in 11 provinces and municipalities.
For example, the added value of China’s major private industrial firms rose 10.2 percent in 2021, 0.6 percentage points higher than the average level of the country, while their imports and exports surged 26.7 percent to 19 trillion yuan (about 2.76 trillion U.S. dollars), accounting for 48.6 percent of China’s total foreign trade volume.
By the end of 2021, China boasted over 44.57 million private firms, accounting for 92.1 percent of all companies in the country, said the report.
It noted that the rapid growth of private firms provided the most direct and substantial support for consolidating employment and creating new jobs.