Hainan Unveils Action Plan to Improve Business Climate
News source:hiHainan / By Li Xiang / 10 12,2020 22:29:01 / others

On October 11, the Haikou Municipal Government released the Action Plan for Improving the Business Environment in Haikou (2020-2025), highlighting initiatives to make the city more attractive, more efficient and more innovative for entrepreneurs.

(Haikou Daily)

The Action Plan aims to meet all 18 first-level indicators of China’s business environment assessment. All indicators should be rated “good” or above by 2022, and “excellent” by 2025.

To achieve the goal, the Action Plan states three major initiatives: to offer high-quality services for enterprises, to provide investment facilitation and to enhance supervision governance.

First, regarding high-quality services, proposals include expediting and streamlining the approval process for new enterprises entering the market, as well as improving the property rights protection and legal frameworks.

Second, for investment facilitation, measures such as assisting corporate financing, establishing a one-stop dispute and litigation services along with strengthening labor supervision are outlined.

Thirdly, on supervision capabilities, the plan calls for raising the overall standard of government services to bolstering intellectual property rights protection and governance system, among other actions.

To ensure the realization of the Action Plan, five safeguard measures are listed including upgrading the working mechanisms, conducting regular evaluations, along with increasing publicity and promotion of the city’s business environment.

In addition, the Haikou Municipal Government will adopt a long-term reform tracking mechanism that will reflect changes in the nation’s business assessment system along with amendments in practices of other regions, both local and overseas. The tracking mechanism will be updated annually.

Under the new Action Plan, Haikou will do its utmost to create a first-class business climate and pioneer efforts in building Hainan as a world-leading free trade port.

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