New Shanghai Action Plan To Enhance Business Environment

New Shanghai Action Plan, China’s commercial hub, is taking measures to enhance its business climate with the latest iteration of the Shanghai Action Plan for Strengthening Integrated Innovation and Continuously Optimizing the Business Environment. The plan’s primary goal is to create an international-first-class economic climate with the most convenient trade and investment, outstanding administrative efficiency, standardized government services, and a complete legal framework.

The city has specified responsibilities in 10 areas to improve the competitiveness of its business environment, including market access, purchase of commercial premises, access to financial services, cross-border commerce, tax payment, market competition promotion, and bankruptcy procedures. The strategy seeks to simplify cross-border commerce by encouraging a paperless switch bill of landing and online verification of import tariff limits.

Here is a short breakdown for each section of the Action Plan:

 

The plan also seeks to optimize life services and improve the satisfaction of market players through better government services, credit services, and intellectual property protection. 

 

Click here for the full plan:

https://www.shanghai.gov.cn/nw12344/20230128/babdf23a1df44aa682fecfea0f50275f.html

The most recent action plan is a promising start toward improving Shanghai’s economic and business environment. 

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