LISTED in a business environment ranking as an economy, Shenzhen’s Qianhai has entered the world’s top 50 for the first time, coming in at 31 among 190 economies around the world, according to a business environment assessment report released by accounting firm PwC on Feb. 27, the Nanfang Daily reported.

It is an important achievement, under close cooperation between Shenzhen and Hong Kong, in continuously optimizing the business environment, said the Daily.

Shenzhen, which has led the country in entrepreneurial density for six consecutive years, made significant progress in business environment reform over the past year. It further promoted the reform of the housing system and financial budget management system, and further strengthened the attractiveness, cohesion and vitality of the city.

This year, Shenzhen has set its sights on becoming among the world’s top 30 business environments. According to the city’s plan, Shenzhen will pilot an innovation and reform experimental zone this year for building an international first-class business environment.

The city will continue to create an open trade and investment environment, provide efficient and transparent e-government services and improve the social credit system.

Benefiting from the city’s open investment environment and innovation resources, more multinational corporations have begun to set up their global R&D centers and innovation platforms in Shenzhen.

In October 2018, TüV Rheinland Group set up its second global IoT technology assessment center in Shenzhen. Airbus China Innovation Center, which is Airbus’ first innovation center in Asia, was officially inaugurated in the city Feb. 21.

In the field of financial cooperation, Qianhai has launched pilot projects for cross-border renminbi loans and bond issuance. The number of enterprises and funds registered under the qualified foreign limited partner (QFLP) system has reached 148.

The city has carried out a business environment reform. Last year, the time it took to set up a business in Shenzhen was shortened from nine days to four days. The total number of registered business entities reached 3.12 million, with entrepreneurial density ranking first in China.

In June 2018, the Supreme Court set up the country’s first international commercial court in Qianhai to provide Belt and Road countries with legal services for resolving business disputes. (Zhang Yu)