One in 50 owns a business

One person in every 50 people in China owns a business, a survey has revealed. In the first half of 2004 more than three million small- and medium-sized enterprises (SMEs) were registered, bringing the total nationwide to 23 million. According to the survey, SMEs account for 55% of China's products and services as well as being the biggest employer, accounting for three quarters of the urban workforce, Xinhua reported. SMEs also account for a large chunk of China's creative power, holding 65% of China's patented technologies.