China will continue working toward the swift implementation and effectiveness of the policy package aimed at enhancing the investment climate for foreign businesses and attracting more foreign investment, the Ministry of Commerce said on Wednesday.
Wenzhou recently saw nine outstanding brands listed in the recent announcement by the Zhejiang Provincial Department of Commerce.
Wenzhou's business environment has been steadily improving, with three projects making the list of best practice cases in Zhejiang province in the recent evaluation.
In a strategic move towards comprehensive urban revitalization, Wenzhou is positioning itself as a regional center in the future, drawing attention from prestigious educational institutions and driving innovation.
Efforts by the State Administration of Foreign Exchange (SAFE) to further facilitate cross-border investment and financing for technology-focused small and medium-sized enterprises and advance the opening up of the capital account will improve the competitiveness of the Chinese financial industry and aid in the country's high-quality economic growth, experts said.
In a bid to bolster its business environment, Wenzhou is pioneering a novel approach: empowering small and medium-sized private enterprises by adopting private services and leveraging social capital.
China issued a guideline on Wednesday for promoting the development of the private sector, signaling the latest push for supporting and reinvigorating a key sector in order to revive economic recovery amid downward pressures.
