Shanghai releases 10 major missions on improving business environment

SHANGHAI, May 12, 2025 /PRNewswire/ -- A news report from english.shanghai.gov.cn

The municipal government of Shanghai released a circular outlining 10 major missions to seek further breakthroughs in improving its business environment on May 8, aiming at further stabilizing employment, companies' operations and market expectations.

One of the 10 initiatives is to better align with the evaluation methods and criteria used in the World Bank's Business Ready report. Further reforms will also be advanced.

Meanwhile, favorable policies should be more easily accessible for companies. The city will launch an online platform via which companies can search for the applicable policies and obtain approvals. A "policy calculator" will also be introduced to explicitly explain the application conditions and scope for certain policies.

To further enhance administrative oversight of companies, Shanghai will complete and upgrade the supervision QR code system, which was rolled out citywide earlier this year.

According to the circular, financing costs for small and medium-sized enterprises should be reduced, and innovative financing services should be offered. To this end, Shanghai will promote a fast-track loan initiative across industrial parks, which was first piloted in the Hongkou district in northeast Shanghai.

The circular also highlights the need to improve bankruptcy procedures, as this is one of the key indicators in the World Bank report. Enhancing efficiency in this area will support company restructuring, accelerate market evolution, and improve resource allocation.

For more information: https://english.shanghai.gov.cn/en-BusinessEnvironment/index.html 

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SOURCE english.shanghai.gov.cn