Shenzhen is ranked third in urban business environment among Chinese cities, following Beijing and Shanghai, according to a report released by China Central Television (CCTV).
The CCTV report took the international and World Bank standards as benchmarks and evaluated the business environment of Chinese cities through a wide range of indicators for the difficulty of starting and running a business, including applications, approvals, getting credit, resource sharing, tax payment and IPR protection.
It surveyed four municipalities directly under the Central Government, 27 capital cities in provinces and autonomous regions and five specially designated cities in the State plan.
In the top 10, Shenzhen is followed by Guangzhou, Chongqing, Chengdu, Tianjin, Hangzhou, Nanjing and Xi’an.
A survey recently released by the World Bank shows China has made some of the biggest strides among the world’s economies in improving its business environment in 2018.
The World Bank surveys conducted in Shanghai and Beijing showed China has made remarkable progress in introducing online registration systems and simplifying social security registration procedures for starting a business.
It now takes nine days on average to start a business in China, which is on par with most Organization for Economic Co-operation and Development (OECD) high-income countries. According to the report, China also remains one of the best economies for resolving commercial disputes.
The process, on average, takes 496 days and costs 16 percent of the value of the claim. This is far better than the OECD high-income countries’ averages of 582 days and 21 percent, respectively.
From: Shenzhen Daily