Pudong looks to improve business ecosystem

The 2018 Shanghai Forum Themed Zhejiang Entrepreneurs in the World and the 10th Member Representative Conference of Zhejiang Chamber of Commerce kicks off in Pudong, Shanghai, on Jan 3. [Photo/Xinhua]

Pudong New Area in Shanghai will rev up efforts to improve services and create a favorable business ecosystem for enterprises, said Wen Zuliang, Party secretary of Pudong at the 2018 Shanghai Forum Themed Zhejiang Entrepreneurs in the World and the 10th Member Representative Conference of Zhejiang Chamber of Commerce in Shanghai, on Jan 3.

The proposed moves include the construction of environments conducive to efficient regulations and policies, internationally competitive business, a level playing field for companies to operate, the luring of the desirable talents, and improved services for enterprises.

Specifically, Pudong will fully implement a wide range of supportive and tax reduction policies in Shanghai so as to reduce burdens for enterprises. Non-tax income only accounts for 0.2 percent of total fiscal revenue.

More efforts will also be made in intellectual property rights protection and a more open and tolerate attitude towards new business models. Companies in Pudong are encouraged to thrive by experimenting with new technologies, developing new products, and expanding new markets.

As talents are considered as driving forces for the growth of the companies, a public service platform for talents and businesses will be introduced. To date, a total of 125,000 overseas professionals have settled in Pudong.

In the past 28 years, the 1,210-square-kilometer Pudong New Area has transformed from being largely undeveloped into an instrumental part of modern Shanghai with advanced infrastructure. In 2018, the district recorded a gross domestic product of over 1 trillion yuan ($145.4 billion) - the first time the GDP broke this key threshold.

The forum, held in celebration of the 40th anniversary of China's reform and opening up, attracted over 1,500 representatives and government leaders from organizations in Shanghai and East China's Zhejiang province.