Over 16 mln individually-owned businesses opened in 2025 in China

China registered over 16 million individually-owned businesses in 2025, the State Administration for Market Regulation said on Thursday.

The number of individually-owned business in operation for more than three years rose to over 84 million, accounting for 65.8 percent of the total, marking an increase of 9.7 percentage points from the end of 2020.

The number of individually owned businesses operating on online trading platforms rose 14.7 percent year on year.

More than 14.5 million individually-owned businesses were set up in the service industry in 2025, with scientific research and technical services, education, and culture, sports and entertainment seeing the fastest growth rates.

Chinese Foreign Minister Wang Yi said on Wednesday that China has both the will and the ability to make new contributions to global marine governance.

Wang, also a member of the Political Bureau of the Communist Party of China Central Committee, made the remarks while addressing a meeting of preparatory committee for the Conference of the Parties to the Agreement on Biodiversity Beyond National Jurisdiction (BBNJ Agreement) via video link.

Wang said that the BBNJ Agreement marks the success of multilateralism, and is also a milestone of the global marine governance.

The full and effective implementation of the BBNJ Agreement is of vital importance to the common well-being of all mankind, Wang said, adding that China is a firm supporter, defender and builder of the United Nations.

In the face of a volatile international situation, China firmly upholds the central position of the United Nations and remains a pillar of multilateralism, Wang said.

Noting that China has long and profound marine civilization, Wang said China nowadays is also committed to promoting modernization featuring harmonious coexistence between humanity and nature.

Wang said China has proposed to host the Secretariat of the treaty in Xiamen, which indicates the responsibility of a major developing country.

China is willing to work with all parties to promote the full and effective implementation of the BBNJ Agreement and jointly build a more just and reasonable global marine governance, he said.