Asia First NewsletterA total of 3.65 million newly-founded companies were established in China in 2014, a 46% growth from a year earlier, the latest data released by the State Administration for Industry and Commerce (SAIC) showed. The number meant that 10,600 new companies were set up in China each day since March 2014.
The data showed that the newly-founded firms have a total registered capital of Rmb19.05tr (USD3.11tr), a 99% rise year on year. SAIC said a boom in business startup started when the government instituted reforms in its business registration rules.
Of the total number of newly-founded companies established last year, 38,400 were foreign funded companies. Majority of the new companies were also in the tertiary industry, the SAIC data showed.
https://www.asia-first.com/newsletter/3.65-million-new-firms-established-in-china-in-2014.html
Meaning 3.65 million old firms destroyed and/or moved out of the US.