The business environment is a major indicator of the economic soft power and competitiveness of a country or city. Shanghai has dedicated itself to creating a facilitating, globally oriented and rule-based business environment in line with the highest international standards.

Drawing on experience from home and abroad and taking into account the practical needs of resident enterprises, Shanghai has introduced measures to streamline administrative procedures according to the six indicators of the World Bank, decreasing by over half the time required for administrative processing, with nearly 40 percent of procedures eliminated.

One-stop service system for business registration

The Shanghai Administration of Industry and Commerce has pioneered further optimization of the city's business environment by restructuring the business incorporation procedures.

The one-stop service system for business registration was officially put into use on March 31, 2018. The system provides one-time processing of a series of services, including business licenses, filing for corporate stamps, and taxation-related matters, supported by background handling of distribution and approval, in addition to reservation of bank account services and social insurance registration for employment. The previous seven-step procedure that took up to 22 days to complete has been reduced to a five-step one to be completed within five days.