According to the World Bank's Doing Business 2020 report, China made significant progress in the 2005-2020 period, compared to any other large economy in terms of facilitating the ease of doing business.
"We were happy to see measures including trimming the negative list, optimizing business environment and strengthening intellectual property protection," said Ker Gibbs, president of the American Chamber of Commerce Shanghai.
Since 2018, Shanghai has taken 286 targeted measures to improve the business environment, unveiling more than 70 reform policies and launching over 20 new public service systems, according to the municipal government.
Reforms have also been adopted in other parts of the country.
"Since Tianjin implemented the 'shipside delivery' reform to reduce customs clearance time, a container of imported goods can be picked up within three hours, saving some 300 yuan (about $43) per day," said You Tingguang, manager with a Tianjin-based trading company.
Local authorities have also taken a slew of measures to help businesses tide over the uncertainties caused by the epidemic. According to the Tianjin Golden Wheel Bicycle Group Co Ltd, as 10 customs authorities have piloted cross-border B2B e-commerce exports nationwide, the company received approval for doing business within a day, thereby buying it more time to seize business opportunities during the epidemic.
"We have also received subsidies for water, electricity consumption and employment stabilization, as well as low-interest loans to help ease operation costs," said the group's general manager Yang Yufeng.
Source: China Daily
