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Yangquan optimizes business environment

Updated: 2023-06-08

Yangquan has been comprehensively optimizing its business environment in recent years.

Yangquan High-Tech Development Zone has introduced 15 policies involving investment promotion, industrial development, scientific and technological innovation, and talent introduction and cultivation. 

Meanwhile, Kuangqu district in the city has reduced the procedures for starting up an enterprise from six to two, and shaved the time limit for the approval of government investment projects from 20-50 days to just 4-5 days. 

Chengqu district exempted and reduced 410 million yuan ($57.55 million) in tax and fees for market entities in 2022. It also issued government consumption vouchers worth 14.36 million yuan to boost consumption value by 108 million yuan, and handled the business procedures for more than 1,000 nighttime business operators last year. 

As of the end of 2022, there were 129,000 market entities in the city, an increase of 32.1 percent year-on-year, of which 40,000 were newly registered, an increase of 170.10 percent. 

In addition, 85 percent of the market entity registrations were completed within 3 hours, and the business approval time in the field of industrial construction was reduced from 6 months at most to 30 days at least.