China is making significant strides in optimizing its business environment, aiming to drive economic growth and attract more entrepreneurs. A vivid example of this progress is Zhao Peng, a catering company manager from Beijing's Xicheng District. When Zhao visited a government service center to open a new branch, he was pleasantly surprised by the efficiency of the process. Instead of the long, tedious wait he expected, a staff member guided him to submit a missing document online, allowing him to obtain his business license and operating permit in just one trip.
This streamlined experience is part of a broader initiative launched earlier this year by the State Council to promote \"one-stop service\" and enhance administrative efficiency. The initial rollout includes 13 key tasks, eight of which directly support business operations, such as corporate information updates, utility applications, and business deregistration.
In May, the State Administration for Market Regulation (SAMR), in collaboration with seven other departments, issued directives to expand the \"one-stop service\" initiative further, enhancing government service efficiency across the board.
China's efforts to simplify business procedures are just one facet of its comprehensive strategy to foster high-quality economic development. This includes reducing taxes and fees, accelerating digital governance, and drafting the Private Economy Promotion Law. In September, the SAMR introduced the 2024 Key Measures for Optimizing the Business Environment, targeting fairness, competitiveness, and the removal of unnecessary administrative barriers.
At the Third Plenary Session of the 20th Central Committee of the Communist Party of China, it was announced that the Private Economy Promotion Law will be published to create a more supportive environment for private enterprises. This law is expected to encourage private-sector participation in major national projects and address systemic challenges faced by private businesses.
These policies, aimed at boosting domestic demand and restoring market confidence, have significantly energized China's economic momentum in 2024, positioning the country as an attractive destination for entrepreneurs and investors worldwide.
Reference(s):
China moves to optimize business environment, driving growth
cgtn.com
