Shenzhen to pilot business environment innovation

Writer: Xia Yuanjie  |  Editor: Stephanie Yang  |  From: Shenzhen Daily  |  Updated: 2021-11-25

Six cities, including Shenzhen, have been selected by the State Council to carry out experiments related to innovation of business environment.

The other five cities are Beijing, Shanghai, Chongqing, Hangzhou and Guangzhou.

In order to further optimize business environment and stimulate market vitality, cities, where conditions permit, are encouraged to take the lead in building a world-class business environment established on rule of law to accumulate experience and set up benchmarks for deepening business environment’s nationwide reform.

A circular issued by the State Council sets forth over 100 reform initiatives in 10 aspects. The measures include breaking down unfair restrictions like regional fragmentation and local protectionism, perfecting an open, transparent, standardized and efficient market entry and exit, and facilitating cross-border trade.

An official of the Shenzhen Municipal Commerce Bureau, who declined to be named, said that Shenzhen is a pioneer in business environment innovation, which also benefits the city.

Shenzhen, a tech hub, is gearing up to utilize its advantages in intellectual property rights protection, personal bankruptcy policies and upgraded customs clearance procedures to explore more initiatives with originality, the official said.