January 09, 2018

City adopts an action plan to optimize its business environment

Shanghai has recently released the Action Plan for Optimizing Business Environment and Accelerating the Development of an Open Economy.

Shanghai is determined to optimize its business environment, soft powers, competitiveness as well as the advantages in urban development. For high quality development calls for better business environment.

Shanghai has 620 multinational company headquarters, 420 foreign research institutes, and Shanghai’s non-tax income accounts for 11.5 percent of its public budget, the lowest in the country.

Pudong New Area is the pilot place for the practice of “Doing business first, and registering later,” and the area has pledged to shorten the construction project permit application time for companies with design scheme to 15 working days and 48 working days for companies without design schemes.

The plan has also put forward that the business environment in various industries should be upgraded in light of the international standards by the end of 2018, and the convenience level for doing business should be among the best in the world by 2020.

The recently opened Yangshan Deepwater Automated Port is exploring new hi-tech automated clearance methods, which will take no more than 15 seconds for a container truck to finish the clearance process.

Third-party payment, Internet literature, and many other startups have emerged in Shanghai, so the government need to improve its management to catch up with pace of their development.