Shanghai best environment in China for SMEs
Shanghai offers the best business development environment for small and medium-sized enterprises among 36 major cities in China, according to a report released by the Ministry of Industry and Information Technology.
“Shanghai is well-developed and balanced in the five indicators measuring the business development environment for SMEs,” Shan Lipo, director of China Small and Medium-sized Enterprises Development Promotion Center, told a forum.
The assessment had five first-level indicators — market, legal system, financing, innovation and policy — as well as 21 second-level indicators and 36 third-level indicators, according to the report.
The 36 cities include four municipalities, five prefectural-level divisions — Dalian, Qingdao, Ningbo, Xiamen and Shenzhen — and 27 capitals.
The cities that followed Shanghai in the top 10 were Shenzhen, Nanjing, Guangzhou, Beijing, Hangzhou, Xiamen, Chengdu, Tianjin and Ningbo.
“Shanghai’s strength mainly lies in plenty of financing opportunities, incentive policies for innovation and entrepreneurship, quality labor resources, government service efficiency and sound traffic infrastructure,” said Wu Jincheng, director of the Shanghai Commission of Economy and Informatization.