Hubei shows firm resolve to optimize business environment

Workers sort yellow peaches at an agricultural export company in the city of Yichang, Hubei province in August. [Photo/IC]

In a 2021 business environment report released by the National Development and Reform Commission, four places in Central China's Hubei province – Wuhan, Xiangyang, Yichang and Huangshi – were recognized for their effective measures to improve the business environment.

In a bid to boost the local economy in the post-epidemic period, Hubei has attached great importance to the optimization of its business environment, enabling all kinds of market players to thrive in the province. Statistics show that over the past year, the number of newly-registered market entities in Hubei exceeded 1.1 million.

With many business environment indicators on the rise, Hubei ranks fourth nationwide in terms of online government services.

The business environment report highlighted Wuhan’s reforms in cross-border commerce, tax payments and government services, and promoted the experience to the rest of China.

In Wuhan's government service center, all kinds of service guides have been popularized through the use of 1,203 QR codes. In addition, the municipal government has also created service items such as "restaurant opening", "drug store opening" and "newborn registration" to make it easier for residents to handle said items.

Data indicate that the amount of procedures involved in government services in Hubei has been cut by 75 percent, and application materials reduced by 50 percent.

Due to a series of preferential conditions in Hubei, Honeywell International Inc, a Fortune 500 company, has chosen Wuhan among the 50 cities where it will set up new headquarters for the emerging market. For a similar reason, China Three Gorges Corporation moved its headquarters from Beijing to Wuhan in September last year; and Geely Technology Group – a domestic private auto giant – has decided to establish its mobile phone R&D centers in Wuhan.

From January to November last year, Hubei saw an increase of 27.8 percent in private investment.