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Wuxi continues optimizing business environment

Updated : 2020-05-14
(wuxinews.com.cn)

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Wuxi, East China's Jiangsu province [Photo provided to wuxinews.com.cn]

Wuxi in East China's Jiangsu province has been making continuous efforts to optimize its business environment in a bid to facilitate high-quality development.

A slew of measures were released on Feb 18 to help film-related businesses weather the novel coronavirus epidemic, including tax cuts, subsidy distribution and other forms of financial support.

Wang Haiju, general manager of Wuxi AIMA Bikes Co, spoke highly of the government's support measures such as providing subsidies for online talent-training programs and sending chartered planes to help workers resume work on time.

According to officials, the Wuxi government has helped enterprises reduce their operating costs by over 5.17 billion yuan ($728.5 million) by reducing social security contributions and costs for water and electricity consumption.

In April, Wuxi unveiled 60 measures as part of efforts to further optimize the business environment. These measures include improving government service efficiency, building a standardized market environment and promoting a fair legal system.

Since implementing these measures, the time required to set up a business in the city is expected to be reduced to less than one working day. About 95 percent of tax matters can also be managed online or through self-service machines by the end of 2020.

In addition, Wuxi has been working to promote the development of industrial clusters to attract more investments.

After years of development, Wuxi has established 16 advanced manufacturing clusters which include the internet of things, integrated circuits and intelligent manufacturing. The city has also set up four future industrial development directions including 5G and additive manufacturing.

Projects which help establish a full industrial chain in Wuxi stand to enjoy significant benefits.

Wuxi was listed among the top 10 Chinese cities with the best business environment in a 2019 ranking published by the All-China Federation of Industry and Commerce. The city will always strive to build a world-class business-friendly environment and satisfy the demands of market entities, according to the municipal government.

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