Hangzhou creating world-class business environment

KUALA LUMPUR, Jan 9 (Bernama) -- A conference was held in Hangzhou recently with a view to improving government services, investment and trade, industrial development, entrepreneurship and innovation, ecology and life, and more to create a world-class business environment.

In recent years, Hangzhou has been working towards building a business environment in accordance with international standards, rules and practices, continuously optimising institutions and mechanisms, upgrading the development of the real economy entirely, and promoting high-quality economic development.

With the promotion of business registration reform, the process and time needed for government services has been greatly shortened resulting in 64,000 new companies being set up in the first half of 2018 alone, a year-on-year growth of nearly 30 per cent.

Hangzhou has also stepped up tax cuts to help companies boost their competitiveness.

As for small-and-medium-sized companies and new economy companies, Hangzhou has specifically funded and established a number of guide funds.

In addition, Hangzhou also provides non-local investors with a series of free special services, such as investment consulting, investment promotion and investment protection.

One of the beneficiaries of these support policies is WeDoctor which has developed into the biggest healthcare technology start-up in the world with a valuation of US$5.5 billion (US$1 = RM4.11).

"The government is responsible for the sun and rain, while the companies are responsible for the healthy growth. This is the true portrayal of Hangzhou's business environment," said WeDoctor founder, Liao Jieyuan, in a statement today.

"Take good care of the private economy like your own eyes and treat private companies like your family," said Zhou Jiangyong, CPC Zhejiang Provincial Committee standing committee member and Hangzhou Municipal Committee secretary.

In Hangzhou, where private economy is an important market power, the vitality of the private economy and the trend of private companies are the wind vanes for Hangzhou's business environment and economic development quality, the statement added.

-- BERNAMA