During this January to September, newly registered market entities of Qingdao reaches to 208,000, 99.5% of which are private economic entities. According to Qingdao Municipal Industrial and Commercial Bureau, until this September, Qingdao has 1,297,800 private economic entities in operation, a year-on-year growth of 18.66%, accounting for 97.55% of all market entities. Registered capital of private economic entities of Qingdao reaches to CNY2,496.7billion, a year-on-year growth of 26%.
Private economy is the key source of tax income and key channel of new job positions of Qingdao. in the first 3 quarters of 2018, private economy of Qingdao submitted CNY85.926billion tax, accounting for 49.02% of all newly increased tax. They hired another 489,000 people; a year-on-year growth of 11.9%, accounts 76.3% of all newly increased employment of urban area of Qingdao.