Tertiary industries in North China's Shanxi province developed rapidly in 2015, attracting more investment than the traditional industries of mining and manufacturing according to an report on the province's market players.
The report said Shanxi province introduced many policies to stimulate the market last year, including reforming its commercial affairs system and lifting limitations on registered capital and the place of business operations.
By the end of 2015, Shanxi saw nearly 1.73 billion market players, up by 16.2 percent year-on-year, excluding foreign-invested enterprises. Private businesses with an increasingly larger proportion of the economy stood out with registered capital totaling three trillion yuan ($461.1 billion), an increase of 26.8 percent over the same period of last year.
As Shanxi continued to adjust its industrial structure, its industries of transportation, storage, post, water conservancy, and environment and public facilities merged into bigger and bigger companies with more funds, talented people, and technology.
Companies or individuals engaged in wholesale and retail took up the biggest market proportion in number and capital, or 59.71percent and 28.89 percent respectively.
Industries of culture, sports, entertainment, education, accommodation and catering grew rapidly with a growth of 35 percent in 2015.
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