A total of 357 entrepreneurs were investigated across the country in 2013, Beijing Times reported.

And more than 40 percent of the investigated business executives were from Beijing, Guangdong, Zhejiang and Jiangsu provinces.

Accepting bribes, embezzlement, misuse of public funds and related economic crimes were the major targets for the investigations, the newspaper said.

Of the business executives who were investigated last year, 270 are private business leaders in financing, management and contract disputes.

The average age of the private entrepreneurs who were investigated was 47.52 while the average age for State-owned business executives investigated was 53.