China never stops efforts to expand opening-up
China is becoming increasingly attractive to
investment thanks to its significant improvement in business environment in
recent years, foreign economic experts and scholars told People’s Daily.
China joined the world’s top 10 most improved
economies
for ease of doing business for the second year in a row, according to the World
Bank's annual doing business report released on Oct. 24.
The country ranked 31st among 190 economies
globally on the ease of doing business rankings, a significant improvement
compared with the 46th place in last year’s rankings, the report said.
China has achieved great success in improving
business environment, leaping from the 78th place two years ago to the 31st
place, said Marcin Piatkowski, a senior economist at the World Bank,
attributing the remarkable achievement to the Chinese government’s
comprehensive business environment reform.
Doing Business 2020, a World Bank flagship
publication, documented regulatory reforms implemented globally during the 12
months to May 1, 2019. Overall 115 economies around the world implemented 294
business regulatory reforms making it easier to do business, the report showed.
China has shown a notable improvement in eight
areas including starting a business and dealing with construction permits, the
report said. For example, the country streamlined the process of dealing with
construction permits and getting electricity, and reducing the time for
administrative approval.
China has made encouraging progress in improving
its business environment. In terms of nurturing new businesses, it ranks
higher, said Stephen Roach, a senior fellow at Yale University.
As the report points out, the Chinese government
has achieved concrete results in supporting start-ups, which indicates the
country's focus on technological innovation.
China unveiled its first regulation on improving
business environment on recently. Drawing on past experience and aligning with
advanced international levels, the regulation codifies the country’s reform
measures that have been proven workable, obtained people’s satisfaction and
supported by the market entities. It provides an institutional guarantee to
improve business environment.
The World Bank welcomes China’s measures to further
improve business environment, said Marcin. Beijing and Shanghai have
implemented a slew of ground-breaking reform measures, and their successful
experiences are expected to be applied in other cities in the country, he
pointed out.
China still has potential to improve its business
environment indicators such as credit and cross-border trade, Marcin noted,
adding that the improvement in business environment will help boost the
high-quality development of the country’s economy.
Wang Jiangyu, associate professor at the Faculty
of Law of the National University of Singapore, hailed China’s regulation on
improving business environment as a far-reaching reform measure. It will
legally guarantee entrepreneurship and transactions in the country and promote the
transformation of the government's role, Wang added.
At present, some international institutions have
lowered their expectations on the growth of the world economy amid rising
protectionism.
China, as one of the major engines driving world
economic growth, will boost its own growth and carry positive implications for
global economic development through optimizing its business environment.
The World Bank’s cross-border indicators showed
that China is striving to reduce the cost of importing goods, demonstrating its
resolve to expand opening-up, Marcin pointed out.
Katsuyuki Hasegawa, chief economist at Mizuho
Research Institute Ltd., said China is translating challenges into
opportunities through continuous efforts to promote structural reform.
The country has taken measures to improve business
environment, including relaxing regulations for foreign enterprisers, opening
its market to the world and deepening structural reform, Katsuyuki noted,
adding that China’s drive for greater openness is of great significance to the
stability and development of the world economy.
Kiyoshi Fushitani, senior managing executive
officer of Japan’s ORIX Corporation, shared some observations about improvement
in China’s business environment as the company's businesses entered China since
the 1980s.
Kiyoshi noted that he really felt the Chinese
government’s emphasis on business environment, from release of relevant laws
and regulations to vigorous efforts of governments at all levels.
An enabling business environment is a beneficial
to both Chinese and foreign enterprises, and will create a more open market
environment and provide opportunities for more foreign companies to develop in
China, he added.
“China has never stopped efforts to expand
opening-up, and we are impressed by its firm resolve to further open its market
to the world”, Kiyoshi exclaimed.
China never stops efforts to expand opening-up
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