Xinhua News Agency

Private sector growing fast

PUBLISHED : Tuesday, 22 July, 1997, 12:00am
UPDATED : Tuesday, 22 July, 1997, 12:00am

The private sector in Shanghai is booming with 62,000 firms and an aggregate registered capital of 32.1 billion yuan (about HK$29.84 billion), Xinhua (the New China News Agency) reported yesterday. The report said the number of firms was 26 times more than in 1991 while the total registered capital had grown more than 100 times from US$290 million in 1992.