中国经济观测点丨10月新注册经营主体数下降明显 融资规模加大

Core Insights - In October 2025, the total number of newly registered business entities in China was 1.6092 million, showing a significant decline of 23.97% year-on-year and 29.92% month-on-month [1][3]. Provincial Analysis - Guangdong province led the country with 209,405 new registered entities in October, accounting for 13.01% of the national total. Henan followed with 109,314 new registrations [3]. - The top ten provinces contributed to 60.5% of the total new registrations, indicating a concentration of business activity in these regions [4]. Growth Rate Analysis - Only three provinces showed positive growth rates in new registrations: Hainan (78.54%), Beijing (9.09%), and Liaoning (1.04%) [6]. - The top ten provinces by growth rate included Hainan, Beijing, Liaoning, Guangdong, Inner Mongolia, Qinghai, Shanghai, Chongqing, Guizhou, and Jiangsu [7]. Industry Insights - The retail sector had the highest number of new registrations in October, totaling 172,300, with a year-on-year growth of 9.54%. The fastest-growing sector was technology promotion and application services, with 87,500 new registrations and a growth rate of 31.71% [9]. - The top ten industries by new registrations included retail, wholesale, technology promotion and application services, business services, software and information technology services, construction and decoration, cultural arts, professional technical services, agriculture, and real estate [9]. Financing Activity - In October 2025, there were 443 financing events in China, with a total financing amount of 89.874 billion yuan, an increase of 24.704 billion yuan from the previous month [12]. - The information technology sector led in financing events with 142 occurrences, followed by manufacturing with 103 events. Other notable sectors included healthcare, business services, electronic information, materials, automotive transportation, energy minerals, consumer life, and agriculture [12]. - Guangdong province had the highest number of financing events at 79, followed by Shanghai with 69 [14].