China rolls out plan to improve business environment in Yangtze River Delta

China unveiled a three-year action plan to turn the Yangtze River Delta into an internationally competitive business environment, aiming to attract private and international investors, the South China Morning Post reported on Friday.

SCMP noted the plan is one of the latest initiatives by the National Development and Reform Commission, China's top economic planner, to restore market confidence and stabilize economic growth. Further measures are also expected to enhance regional interconnectivity.

The Yangtze River Delta, comprised of Shanghai and the three neighboring provinces of Jiangsu, Zhejiang and Anhui, accounts for roughly a quarter of the nation's gross domestic product and more than a third of its exports, SCMP said.

"An action plan in such an already high-standard region will be a good demonstration of China's business environment, and it will also help boost the establishment of a national unified market," said Pan Xiangdong, chief economist with the Beijing-based Qilai Research Institute, adding there could be more cooperative regional efforts to coordinate business development, and boost investment and financing.

The NDRC also vowed to better implement the negative list system, which details forbidden or restrictive areas for foreign investment, which has been shortened in recent years. It said it would improve the complaint mechanism, protect legitimate interests and build a platform for global investors.