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Province News

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E.China Zhejiang pilot FTZ sees improved business environment: KPMG

March 29, 2019


Abstract : Business Environment in east China's Zhejiang Pilot Free Trade Zone (FTZ) has notably improved in the past two years thanks to institutional innovation, according to the latest report by global auditing and consultancy firm KPMG.

BEIJING, March 29 (Xinhua) -- Business Environment in east China's Zhejiang Pilot Free Trade Zone (FTZ) has notably improved in the past two years thanks to institutional innovation, according to the latest report by global auditing and consultancy firm KPMG.

According to the report, Zhejiang pilot FTZ created 24 institutional innovations with premium quality since its establishment, and 11 of them are created for the first time in China, which is of great significance to enhancing the business environment of Zhejiang pilot FTZ.

To be specific, the innovation was mainly allocated in the fields of investment facilitation of oil and gas industry chain, innovation of trade supervision mode, construction of supervision and comprehensive law enforcement system, and optimization of the business environment.

It is noted that the result of innovation are reflected from the level of business environment construction and economic development data. As of March 2019, Zhejiang pilot FTZ ranked 43rd in the world in simulation of business environment, ranking top among China's pilot FTZs, said the report.

In particular, Zhejiang pilot FTZ performed well in the indicators such as enterprise establishment. Data shows that 11,580 new enterprises registered in the pilot FTZ since its establishment, including 2,810 oil and gas enterprises, making it the region with highest density of oil enterprises in China. (Edited by Jiang Feifan)


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