Chongqing ranks 5th in China's Urban Business Environment Report 2019

On June 18, the China Central Radio and Television Station released the 2019 Report on the Business Environment of Chinese Cities. In the comprehensive ranking of 36 cities' business environment, Chongqing is ranked fifth in the country, following Beijing, Shanghai, Shenzhen and Guangzhou.


The Report is benchmarked against the World Bank's business environment evaluation system standards and reference to international peers' evaluation indicators, and the evaluation system consists of five parts including infrastructure, human resources, financial services, government environment, and inclusive innovation. The report's overall ranking is based on four municipalities directly under the central government, 27 provincial capitals and autonomous regional capitals, and five cities listed in the plan.


What's so great about Chongqing's business environment?


Take the governmental environment, for example. Business start-up time, which the State Council set at 8.5 working days, was reduced to 5 working days in 2018 in Chongqing. In 2019 and shortened to 3 working days. At the beginning of this year, the city fully implemented of the start-up enterprises at one go with “one network, one window, one day”.


Another example is financial services. In order to create an excellent business environment, in recent years, Chongqing has successively introduced various preferential policies for financial support. Only this year the introduction of the 40 policies to support enterprise involved in financial support, including the guarantee to increase credit, reduce loan interest rates. The new loans, loan subsidies, small and micro loans related to agriculture. Preliminary estimates, It can be a great aid to the  key enterprises during the pandemic prevention and control, agriculture-related small and micro-enterprises new low-interest loans of 25 billion yuan, for the pandemic-affected small and micro-enterprises. The extension and renewal of enterprise loan stock is about 100 billion yuan.

It is worth mentioning that the Report shows that in this dimension of universal innovation evaluation, Beijing ranks first and Chongqing ranks second, indicating that Chongqing is a national leader in fostering innovation.


In recent years, Chongqing has made great efforts to build an excellent innovation ecology in order to guide and encourage enterprise innovation. For example, in fostering enterprise innovation, Chongqing has implemented the "Ten Million" project for science and technology-based enterprises, making comprehensive use of science and technology innovation vouchers. The introduction of universal fiscal policies, such as the addition of R&D expenses, will guide the cultivation and introduction of high-technology and high-growth enterprises. technology-based enterprises; in terms of increasing financial support, Chongqing has increased the proportion of financial expenditure on science and technology as a proportion of fiscal expenditure, optimizing fiscal S&T expenditure structure, prompting more financial S&T funding to support R&D and innovation activities. released in late 2019, "Chongqing Science and Technology The Innovation Index Report (2019) shows that Chongqing's comprehensive science and technology innovation index reached 69.79%, up from the previous year's 3.56 percentage points.


Whether the business environment is good or bad will ultimately be reflected in the activity of market participants. From January to May this year, Chongqing set up a total of 171,500 new market entities of all kinds, an increase of 7.36% year-on-year. Especially in May, the city set up 50,600 new market entities, up 50.18% year-on-year.


(Source:Chongqing Daily)