Shanghai to further optimize business ecosystem

The city of Shanghai in East China is moving to streamline and optimize its ecosystem for business, in a bid to further stimulate its economy.

In order to help it do that, the Action Plan on Strengthening Integrated Innovation and Continuously Optimizing the Business Environment in Shanghai was released recently.

It is said to mark another important step in Shanghai's efforts to create a market-oriented, law-based and internationalized first-class business environment.

Since 2018, Shanghai has issued five successive versions of the action plan to optimize the business environment. This year's plan is also known as the Action Plan Version 6.0.

The Action Plan Version 6.0 contains 195 tasks and measures, which are to be promoted from four aspects. These will deepen the reform of standards in key areas to improve the competitiveness of the business environment, as well as optimize the service and supervision of enterprises in their whole life cycle to better meet the needs of the city's business entities.

They will also include supporting key regions in leading innovation, to increase the impact on the business environment – and strengthening coordination and cooperation, supervision and assessments, as well as publicity and promotions.

The Action Plan Version 6.0 proposes to deepen the capacity building of "AI+ government services" to further optimize business approval procedures.

It is also said to highlight the united and connected management for business approvals in the Yangtze River Delta region.