China Economic Observation Point, developed by the Xinhua Finance National Financial Information Platform, provides detailed economic insights and profiles by analyzing micro-level data. This release covers changes in national enterprise registrations for February 2026, along with characteristics across provinces and industries.
According to Xinhua Credit data, approximately 940,000 new business entities were registered nationwide in February 2026. This represents a significant decrease of 929,800 entities compared to the same period last year, a drop of 49.72%. The month-over-month decline was also notable at 47.08%.
Guangdong Province maintained its leading position in the number of newly registered business entities, with 91,500 registrations in February. However, this figure reflects a sharp year-on-year decrease of 52.68%. Following Guangdong, the top ten provinces by registration volume were Hubei, Henan, Zhejiang, Shandong, Jiangsu, Fujian, Hebei, Anhui, and Sichuan. Combined, these ten provinces accounted for 61% of all new registrations nationwide in February.
Growth rates for new business entities were negative across all regions during the month. Hainan Province experienced the smallest decline at 11.71%.
By sector, the retail industry recorded the highest number of new registrations in February 2026, with 84,400 entities. The top ten industries by registration volume were: retail; wholesale; business services; technology promotion and application services; software and information technology services; building decoration and other construction activities; professional technical services; culture and arts; agriculture; and residential building construction.
In terms of investment and financing events, China recorded 324 such occurrences in February 2026, a decrease of 240 from the previous month. The information technology sector led with 112 financing events, followed by production manufacturing with 71. Other sectors with notable activity included electronic information, healthcare, enterprise services, materials, and automotive transportation.
Regionally, Jiangsu Province recorded the highest number of financing events with 54, followed by Shanghai with 49.
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