WEDZ ranks 4th among national development zones

The hall of the government service center in WEDZ [Photo provided to en.whkfq.gov.cn]

The Wuhan Economic & Technological Development Zone (WEDZ) ranked fourth in terms of business environment among all national economic and technological development zones in China, according to the 2022 national economic and technological development zone high-quality development report released on Dec 28.

The report assessed the top 30 national economic and technological development zones and indicated that WEDZ and another three development zones, in Shenyang, Qingdao and Beijing, respectively, saw export and import growth rates exceeding 50 percent.

The zone has been optimizing its business environment throughout the year. Now, all services offered by the zone’s government affairs center can be used online.

"Starting businesses used to be hard, taking at least one month to register at different windows in banks, and government departments in charge of taxation, industry and commerce, and social insurance. Now all of these affairs can be handled in half a day, and the business license can be delivered directly to your home, which is so convenient," said a manager at a local firm.

In 2022, about 38,000 market entities in WEDZ have benefited from the tax and fee reduction policies. The zone has reported 15,000 new market players, and 23 national specialized and new little giant companies.