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Doing Business in China Becomes Easier as China's Business Environment has Significantly Improved

Updated:2018-12-3 9:56:39    Source:www.tannet-group.comViews:594

According to Shanghai Securities News, citing a report issued by the Academy of China Council for the Promotion of International Trade on Thursday, nearly 90 percent of 4,000 enterprises that participated in a survey felt it had become easier to do business in China over the past three years. As for this year, the surveyed firms, including private-owned, State-owned and foreign-owned companies across the country's 25 provinces and regions, were satisfied with the business environment in China, scoring 4.17 against the total five, up from 3.85 in 2016.

Noticeably, enterprises in central areas, wholly foreign-owned enterprises and hi-tech enterprises gave their highest-scored feedbacks.

At the end of October, World Bank's report also endorsed China's reform efforts to better its business environment for small and medium enterprises. As Doing Business 2019: Training for Reform report showed, China, the only economy from East Asia and the Pacific to join this year's top 10 improvers, jumped more than 30 spots to its highest ever ranking — 46th place in the annual global rankings.

And the report highlighted China's progress in areas, including starting a business, dealing with construction permits, getting electricity, protecting minority investors, paying taxes, trading across borders, though dealing with construction permits in China still ranks at 121, with 20 procedures in order to obtain all permits and authorization to build a warehouse here, compared with an average of 15 procedures in East Asia and Pacific region.

"China has made rapid progress in improving its business climate for domestic small and medium enterprises in the past year. This progress, which now puts China among the top 50 economies in the world, signals the value the government places on nurturing entrepreneurship and private enterprise," said Bert Hofman, World Bank country director for China.

Yu Haiyan, deputy inspector of development research department at China Council for the Promotion of International Trade, told Shanghai Securities News that to create a business environment that is market-driven, law-based and up to international standards is still an important task for China at present and days ahead. (Source: China Daily)

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