China's startup sector drew increased investment in the first quarter of 2016, and the number of new registered companies in emerging sectors accelerated, official data showed on Wednesday.
Startups in the Chinese mainland were able to raise capital through 65 new funds in the first three months, worth about 37.2 billion yuan ($5.7 billion), up 15 percent on a year-on-year basis, the National Development and Reform Commission (NDRC), the country's top planner, said in an announcement published on its website on Wednesday.
Investments in primary fundraising rounds accounted for 74.8 percent of the total number, according to the NDRC.
Angel investors put in over 2.24 billion yuan of investment in the first quarter, a year-on-year increase of 7.8 percent.
The number of new registered companies increased in such sectors as services and the Internet, according to the NDRC.
New companies in the technology and information sectors stood at 62,000, up 39.7 percent year-on-year. With the simplification of the registration process, the number of new registered companies in all sectors in the first quarter reached 3.01 million.
The NDRC noted that the growth of micro-sized and small enterprises gained momentum. Such enterprise offer employment opportunities to new graduates and those who've been laid off.
Premier Li Keqiang pledged in March 2015 to support small startups by relaxing the business license procedures and paving the way for entrepreneurship, according to the government's website.
