A view of Shanghai. [Photo/IC Photo]
Shanghai has ushered in its fourth edition of regulations aimed at enhancing the city’s business environment, which came into effect on Nov 1.
The new regulations, focused on optimizing government law enforcement, were unveiled during a news briefing recently hosted by the Shanghai Municipal Development and Reform Commission.
The Regulations of Shanghai Municipality on Optimizing Doing Business Environment, initially adopted in April 2020, have undergone significant revisions, marking the third time amendments have been made.
This latest update includes 21 changes and the addition of seven new articles, bringing the total number of articles to 97. Previous revisions in 2021 and earlier this year saw further enhancements with a total of 51 changes and 17 additional articles.
The 2024 revision is said to underscore Shanghai’s commitment to aligning with international standards by prioritizing fair competition, enhancing international trade services and improving legal protections for employment rights and employee interests.
One key aspect of the revisions is the streamlining of processes for business enterprises to access beneficial policies through a unified digital services system.
Additionally, the revised regulations aim to ensure that law enforcement and regulatory agencies carry out their duties effectively without unduly burdening companies or market participants.
That was explained to the news briefing by Lu Aiguo, an official from the city’s development and reform commission, which is leading the initiative.
Lu emphasized the importance of regular revisions to adapt to the evolving needs of businesses, underscoring the city’s proactive approach to create a conducive and dynamic business environment.
,https://english.shanghai.gov.cn/en-Latest-WhatsNew/20241101/86a5007cac9347888c397888f23a6051.html