Shenzhen celebrated the 10th anniversary of its commercial system reform on March 1 by implementing a new online platform for business registration. The reform aims to reduce red tape and transform government departments into service providers and market supervisors.

Over the past 10 years, the number of business entities in Shenzhen has increased from 1.3 million in 2013 to 3.94 million in 2022, according to the Shenzhen Bureau for Market Regulation.

By the end of 2022, of the 3.94 million business entities in Shenzhen, 2.457 million were enterprises and 1.48 million were self-employed businesses. Shenzhen ranks first in the country in terms of the total number of business entities and entrepreneurship density.

Micro and small-sized enterprises in the city have an average of 7.7 employees, while individual industrial and commercial households have an average of 2.8. The reform has created at least 5.7 million job opportunities, becoming an important force in expanding employment and boosting the economy.