Yichang's business environment continues to improve
2023-03-23 16:03:47
By Tan Maolin, Yichang International Communication Studio
The “City-Wide Business Environment Optimization Conference 2023” was held in Yichang, Hubei Province, China on March 20. The meeting produced a new action plan to further improve the business environment, especially in the area of cost control.
Yichang will introduce 15 initiatives to reduce government-imposed taxes, transaction and logistics costs, and financing and labor costs, to help enterprises improve efficiency, according to the plan.
In recent years, Yichang has launched a series of business-friendly measures including simplifying approval processes and leveraging information platforms to reduce upfront costs for enterprises, and these have had a positive effect. In the case of the Yichang Tonghua Group’s new energy and new materials project, only 26 days were required between approval and the start of construction. Only 298 days elapsed between the start of construction of the Bangpu Integrated Battery Material Industrial Park project and the beginning of trial production. Chuneng’s new energy lithium battery intelligent manufacturing project took just seven months from signing of the contract to the sealing of the roof structure.
Data from the City Business Office shows that 17,925 new market entities were established in Yichang in the first two months of 2023, an increase on the previous two months. In the first quarter of 2023, a number of new over-100-million-yuan projects will be signed, and among which are 14 major 10-billion-yuan projects. What’s more, a new round of corporate relief initiatives will be launched, covering reductions in taxes and fees, loan support, rent reductions and subsidies.
China ranked 31st on the World Bank's ease-of-doing-business rankings in 2020, a massive jump from 78th in 2018.
The “City-Wide Business Environment Optimization Conference 2023” was held in Yichang, Hubei Province, China on March 20. The meeting produced a new action plan to further improve the business environment, especially in the area of cost control.
Yichang will introduce 15 initiatives to reduce government-imposed taxes, transaction and logistics costs, and financing and labor costs, to help enterprises improve efficiency, according to the plan.
In recent years, Yichang has launched a series of business-friendly measures including simplifying approval processes and leveraging information platforms to reduce upfront costs for enterprises, and these have had a positive effect. In the case of the Yichang Tonghua Group’s new energy and new materials project, only 26 days were required between approval and the start of construction. Only 298 days elapsed between the start of construction of the Bangpu Integrated Battery Material Industrial Park project and the beginning of trial production. Chuneng’s new energy lithium battery intelligent manufacturing project took just seven months from signing of the contract to the sealing of the roof structure.
Data from the City Business Office shows that 17,925 new market entities were established in Yichang in the first two months of 2023, an increase on the previous two months. In the first quarter of 2023, a number of new over-100-million-yuan projects will be signed, and among which are 14 major 10-billion-yuan projects. What’s more, a new round of corporate relief initiatives will be launched, covering reductions in taxes and fees, loan support, rent reductions and subsidies.
China ranked 31st on the World Bank's ease-of-doing-business rankings in 2020, a massive jump from 78th in 2018.
