China’s private sector provides 90 percent of jobs in 2010

June 12th, 2010 - 1:39 pm ICT by IANS  

Beijing, June 12 (IANS) Over 150 million people in China found employment in the first few months of 2010 and 90 percent of these jobs were provided by the private sector, a Chinese cabinet minister has said.
At the end of this year’s first quarter, private firms employed more than 152 million people, and more than 700,000 laid-off workers in 2009 found jobs again in the private sector, Zhou Bohua, minister of state administration for industry and commerce, was quoted as saying by the Global Times.

Meanwhile, Zhong Youping, vice minister, said China had 7.55 million private companies at the end of March this year, up almost 14 percent from the same period last year, with a total registered capital exceeding 15 trillion yuan ($2.2 trillion).

The private companies employed 86.98 million people in the same period, he said.

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