BUSINESS Shanghai unveils measures to optimize business environment

BUSINESS

Shanghai unveils measures to optimize business environment

Xinhua

11:18, February 13, 2019

SHANGHAI, Feb. 12 (Xinhua) -- Shanghai has announced a series of reform measures aimed at improving its business environment to maintain stable economic growth.

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Photos: VCG

The measures cover 25 main areas such as business startups, applications for construction permits and electricity service, according to a working conference held by the municipal government on Monday.

Shanghai cannot simply rely on favorable policies to achieve development, let alone low-cost competition, said Li Qiang, Party chief of Shanghai, adding that a better business environment is the strong impetus.

This year, Shanghai will promote collecting and sharing of public data as well as easy access to governmental services for enterprises and citizens, according to local government authorities.

According to a World Bank report on the ease of doing business released in October last year, China advanced to a global ranking of 46 among 190 economies in 2018, up from 78 in the previous year.

Shanghai recorded an overall economic growth of 6.6 percent last year, with its GDP per capita exceeding $20,000. The city expects to attain a growth rate of 6 percent to 6.5 percent this year.

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