Shanghai's business environment: Part and parcel of being an excellent city
What does it take to be an excellent city? The first things that come to mind might be good food, clean streets and friendly citizens. But surely a sound business environment will add to a solid economic foundation so a city can thrive in this fast-changing era.
In recent years, Shanghai has been striving to improve its business environment by streamlining government procedures, consolidating systems and breaking the barrier between different sectors.
These changes have contributed to the significant increase in China's Doing Business ranking, an index initiated by the World Bank to assess how easy it is to do business in 190 economies worldwide. In the latest DB2019 report, China ranks 46th, from 78th place in the previous one.
This improved business environment has benefited multinational companies like Signify, Wacker and Boehringer-Ingelheim, as well as local tech start-up Liulishuo. Check out the video below to hear their stories.