More than 40 per cent of China's private sector businesses are managed by women entrepreneurs, contributing much to the country's fast-paced economic growth, a top female lawmaker has said.

Chinese women also manage 28 per cent of the state-owned enterprises and collective businesses and 28 per cent of the shareholding companies, vice-chairwoman of the Standing Committee of China's National People's Congress, Gu Xiulian said.

About 50 per cent of the companies led by women are in the processing sector, while about 45 per cent are in the service sector, Gu, also president of the All-China Women's Federation.

"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 was quoted as saying by Xinhua news agency.

Statistics show that 20 per cent of China's entrepreneurs are women. Twenty-one per cent of the female entrepreneurs start business on their own, up 17 per cent from 10 years ago, and near the level of male entrepreneurs.

In addition, 63 per cent of companies launched or run by women hire more women for more than half of their employees, the report said.