Women entrepreneurs are running more 40 percent of China's private businesses, said Gu Xiulian, vice-chairwoman of the Standing Committee of China's National People's Congress (NPC), Thursday.

Gu, also president of the All-China Women's Federation, said that women also manage 28 percent of the state-owned enterprises and collective businesses and 28 percent of the shareholding companies.

About 50 percent of the companies led by women are in the processing sector, while about 45 percent are in the service sector, she said.

"These women entrepreneurs have made great contributions to China's economic and social development in leading their businesses forward by overcoming difficulties in the market economy," she said.

Statistics show that 20 percent of China's entrepreneurs are women. Twenty-one percent of the female entrepreneurs start business on their own, up 17 percent from ten years ago, and near the level of male entrepreneurs.

In addition, 63 percent of companies launched or run by women hire more women for more than half of their employees.

Source: Xinhua