East China’s Jiangsu province has stepped up its efforts since the start of this year to promote streamlining administration and delegating power to lower-level governments and optimizing administrative services in a bid to ensure that the deepening of the reform will exert greater stimulating effects on economic development through the optimization of the business environment and the promotion of economic vitality across the province.
Gaogang district of Taizhou city has seen local enterprises increase their investment one after another since the start of this year.
Huijin Electronics has added 150 million yuan to its project operation. Nature Floor Holdings has invested an additional capital of 3.1 billion yuan on its phase-II project. The Singapore-funded Yihaikerry Group has increased its investment from 200 million yuan to 2.6 billion yuan to boost its output value from hundred millions of yuan to more than 10 billion yuan.
The added investment for the promotion of the phase-II project has become a strong stimulus to boost the economic growth in Gaogang, a major economic hub in Taizhou city.
The growth momentum has been attributed to the transformation of government functions by streamlining administration and delegating power to lower-level governments to optimize the approval formalities and shorten the time spent on the approval process.
The deepening of the reform has given rise to the pro-business environment to ensure that the reform bonuses have become the driving force behind economic growth.
Since the start of this year, Jiangsu has taken necessary measures to promote streamlining administration and delegating power to lower-level governments and optimizing administrative services.
The city of Suqian, for example, has reformed the formalities for invoice application to benefit more than 40000 enterprises and private businesses. The applicants can have the invoices delivered to the door by submitting their applications online for the state taxation bureau to go through the backstage approval. The invoices are then sent to the clients through express mail service on the same day they are printed.
The transformation of government functions has helped to boost the economic vitality across the province. In the first half of this year, Jiangsu registered 730000 new market entities, up 23.12% year on year.
