HONG KONG — The entrepreneurial economy in China is booming, with more than 80,000 startups in the first quarter of this year, according to a report from Bloomberg Intelligence.
And that’s thanks to the government’s new entrepreneurship program, which aims to promote entrepreneurship and bring in more talent.
More than 2,400 companies launched in China in the third quarter of the year, including more than 20 that started in 2014, according the report.
The Chinese government launched the program in 2014 and now has 1.8 million employees working in entrepreneurship.
The program’s focus is on “innovative and disruptive technologies and businesses,” according to the report, which said more than 2 million graduates in China were trained as entrepreneurs.
In the fourth quarter, the number of graduates with the bachelor’s degree or higher jumped to 4.6 million, the report said.
China’s entrepreneurs, on average, make a median salary of about 6 million yuan ($7.6) a month, according Bloomberg Intelligence, which tracks the countrys business.