The World Bank says Chinas business environment has greatly improved foreign media: reform is fast and effective.

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 The World Bank says Chinas business environment has greatly improved foreign media: reform is fast and effective.


According to Taiwan Union News Network on November 1, in its Business Environment Report 2019: Strengthening Training and Promoting Reform, the World Bank recognized that China had implemented a record number of reforms to improve business environment for small and medium-sized enterprises in the past year, jumping from 78th place in the previous period to 46th place in the world.

The World Bank team believes that China has made remarkable progress in seven categories of reforms, namely, the establishment of enterprises, the processing of construction permits, access to electricity, taxation and cross-border trade.

In resolving business disputes, China is one of the best economies in the world, with an average time of 496 days and costs accounting for 16% of claims, much better than the average time taken by high-income OECD economies of 582 days and 21% of claims, the report said. In terms of cross-border trade, the report affirmed the single window construction of Chinas international trade. According to an important World Bank report on business facilitation in different economies around the world, China has made considerable progress in reducing red tape and cumbersome regulations in the past year, the Financial Times website reported on October 31. According to the report, Chinas improvement in cross-border trade, access to electricity and taxation has lifted its ranking from 78th last year to 46th (190 economies) this year, bringing it closer to the standards of developed economies. Chinas business environment improved by third, second only to Afghanistan and Djibouti. New Zealand business convenience is at the top, while Somalia is at the bottom, the same as last years rankings. The source of this article: Reference News Editor: Ji Ke _b6492

In resolving business disputes, China is one of the best economies in the world, with an average time of 496 days and costs accounting for 16% of claims, much better than the average time taken by high-income OECD economies of 582 days and 21% of claims, the report said. In terms of cross-border trade, the report affirmed the single window construction of Chinas international trade.

According to an important World Bank report on business facilitation in different economies around the world, China has made considerable progress in reducing red tape and cumbersome regulations in the past year, the Financial Times website reported on October 31.

According to the report, Chinas improvement in cross-border trade, access to electricity and taxation has lifted its ranking from 78th last year to 46th (190 economies) this year, bringing it closer to the standards of developed economies. Chinas business environment improved by third, second only to Afghanistan and Djibouti. New Zealand business convenience is at the top, while Somalia is at the bottom, the same as last years rankings.