Thursday, June 30, 2022

Post-Covid-19: China begins ramp up efforts on business environments

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China is ramping up efforts in optimising business environment to stabilise development of enterprises and economy amid the fight against COVID-19, reports Economic Information Daily on Friday.

Ren Rongfa, Deputy Commissioner of China’s State Taxation Administration, said by March, more than 100 reform measures had been introduced nationwide to improve the business environment, with 70-odd of them promoted across the country.

According to the report, central China’s Henan Province started to solicit public opinions on its regulations to optimize business environment recently.

The Chinese capital city Beijing has already approved its own business environment optimisation regulations which will be effective on April 28.

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A number of regions have also announced key tasks to improve business environment.

East China’s Zhejiang Province would focus on helping enterprises with work and production resumption amid the epidemic while improving the business environment.

Shenzhen of south China’s Guangdong Province has worked out 210 reform measures centering on 14 key areas like business registration, project approval, corporate financing and cross-border trade.

Judging from the regulations and key tasks announced by all localities, reduction of enterprises’ burden and stimulation of market vitality had been further highlighted, said the report.

For example, Zhejiang proposed to further advance the “10 + N” initiative to improve facilitation in starting a business, carrying out cross-border trade and getting credit.

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It also puts forward to cut taxes, fees, rent, interest and expenses for enterprises by about 150 billion yuan for the year, and to deepen the reform regarding electricity to ensure lower electricity price for industry and commerce.

Improved business environment at this critical time is particularly crucial, which is helpful for enterprises to tidy over difficulties posed by the epidemic and socio-economic development back on track, noted experts.


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