Self-employed and private firms create one-third of China's jobs. (Photo : Getty Images)
A recent study published by the State Administration for Industry and Commerce (SAIC) showed that a third of jobs in China are composed of private firms and self-employed people, as cited in a report by the Xinhua News Agency.
The study also revealed that 9 out of 10 new jobs in the country's urban areas are attributed to the self-employed and private enterprises.
Last year, a total of 116.8 million self-employed jobs were created, posting a 47-percent increase from the 2011 figure. Meanwhile, private firms created a total of 163.9 million jobs, an increase of 58 percent.
By the end of 2015, China has listed around 54.08 million self-employed businesses. The statistic has increased by 44 percent from 2011's 37.56 million.
SAIC data showed that over the period, the number of private companies had already doubled to 19.08 million.
Since the reform in China's business registrations system back in 2014, the two sectors have been rapidly growing.
The reform is part of the government's campaign to "streamline administration and delegate powers to lower levels," the article added.
The government was alarmed by the economic slowdown back in 2014 when it only grew by 7.4 percent, the country's weakest in 24 years. This has prompted authorities to devise ways on how to fuel growth, one of which was the said delegation of powers.
In a work plan signed by Premier Li Keqiang, authorities have decided to "cultivate a new engine for economic and social development" by streamlining administration and enhancing power delegation.
Meanwhile, in a separate study in December last year published by a premier Chinese university, it was shown that China's labor force was no longer youth-dominated, with an average age of around 38 years old.
According to a report by Sun Yat-sen University, laborers aged 20 and 44 comprised 32.8 percent of China's total work force; people aged 15 and 29 accounted for 33.07 percent.
On the average, workers received a salary of 30,197 yuan.
