Pudong vows to create favorable business environment

Pudong New Area in East China's Shanghai has recently unveiled an action plan that focuses on improving its business environment.

In July 2021, the central government released a guideline to develop the area into a pioneer of socialist modernization. Over the past two years, Pudong has beefed up efforts to improve the business environment with higher standards and greater efforts.

This year, Pudong plans to carry out 10 innovative measures in Zhangjiang Hi-Tech Park, aiming to promote integrated and systematic reforms and build a characteristic business environment featuring scientific and technological innovation.

Cao Lei, deputy director of the area's commerce commission, said that Pudong will give top priority to expand domestic consumption and stabilize growth this year, and build a number of high-quality commercial complexes and cultural and tourism areas. A number of major commercial and cultural projects are also expected to open this year, such as the Costco China Flagship Store, Qiantan PLAZA, Qiantan Sifang City, Caolu Merchants Garden City, Xinde Cultural Center and Shangbo East Pavilion.

On Sept 28, 2021, the regulation for "one integrated license" for businesses, which integrates the previously required multiple licenses into one for market access, became the first regulation tailored to Pudong.

As a practice that has been piloted in Pudong's Pilot Free Trade Zone since 2015, the regulation, which applies to 31 sectors, simplifies licensing approval procedures and scraps needless restrictions.

Pudong also launched 15 specific laws and regulations to build a law-based business environment and strengthen the institutional foundation for improving it, which have laid a solid legal guarantee for Pudong to build a world-class business environment.

Pudong New Area in East China's Shanghai unveils an action plan that focuses on improving its business environment. [Photo provided to english.pudong.gov.cn]