Hangzhou Unveils New Scheme to Optimize Business Environment

Hangzhou, the capital city of East China's Zhejiang Province, announced a new scheme to optimize its business environment at a news conference held on February 11. The initiative aims to further enhance the city's appeal to enterprises and investors, aligning with national efforts to improve market vitality.

This new set of measures follows a notice released by the State Council in September 2023, which tasked six Chinese cities (including Hangzhou) with piloting reforms to upgrade their business climates. According to local officials, the Hangzhou scheme covers 153 specific improvement areas, addressing key pain points for enterprises in operation and development.

A core focus of the scheme is supporting enterprise expansion: Hangzhou will implement reforms to simplify procedures for companies seeking to establish subsidiaries engaged in the same business within specific regions. This streamlining is expected to reduce administrative burdens and accelerate business layout adjustments for enterprises.

Additionally, the city will refine the mechanism for market access and exit—making it easier for new business entities to register and operate, while also providing a smooth and standardized process for enterprises to exit the market when needed.

The scheme also emphasizes facilitating investment attraction and project construction. Hangzhou will optimize its management system to shorten approval cycles for key projects, ensuring faster implementation and better service for investors.

For foreign investors and talents, the city will roll out targeted improvements: it will simplify procedures for foreign investment in Hangzhou and enhance services for foreign skilled talents, including better support for work permits, housing, and daily life—creating a more friendly environment for international cooperation.

According to the scheme, Hangzhou has set a clear goal: to elevate the overall competitiveness of its business environment to world-class standards within 3 to 5 years, solidifying its position as a leading city for innovation, investment, and high-quality development.

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