Chongqing Banan District to Benchmark Int’l Standard, Optimise Business Environment

Chongqing- Banan District has focused on deepening its reform to create an international, market-oriented, and legal-based business environment, according to a press conference held on December 31, 2020.

To optimize the business environment, Banan District has successfully introduced a series of preferential policies for enterprises and policies to reduce fees and taxes. Moreover, 116 investment projects were introduced and signed from January to November in 2020, with contract funds of 89.77 billion yuan (13.89 U.S. Dollars), a year-on-year increase of 48%.

In terms of promoting commercial reforms, Banan District took the lead in Chongqing to carry out a trial of e-commerce enterprise cluster registration and set up a comprehensive window for enterprises to handle their business-related matters. At present, it only takes three minutes for enterprises to obtain licenses.

Over the past three years, Banan District has also paid a total of 100 million yuan in special fiscal funds. By establishing angel funds, seed funds, and knowledge value credit loan risk compensation funds, the District actively encourages entrepreneurship and innovation among enterprises.

In addition, Banan District also comprehensively evaluates the urban landscape, municipal supporting facilities, and other engineering construction projects that may impact the environment. Nowadays, the settled enterprises only need to make a written commitment, where the relevant technical reviews are no longer needed.

(Wang Yaomin, as an intern, also contributed to this report.)