Huzhou in Zhejiang province boasted a total of 560,003 market entities at the end of last year, having the province's second most market entities per capita, according to the Huzhou Market Supervision Bureau.

The continuous expansion of market entities can be attributed to the ongoing improvements of the business environment and consistent policy support. Huzhou Market Supervision Bureau has been reforming its processes, implementing a streamlined approach to business registration where companies can be registered in a single day at zero cost.

Additionally, efforts have been made to simplify business relocation, with an average completion time of three working days for those relocating within the province. The establishment of 20 registration points for individual businesses across 15 subdistricts and villages has further reduced barriers to entry for entrepreneurs, fostering increased market dynamism.

Huzhou has also adopted a multipronged approach to enhance the cost-effectiveness and efficiency of market entities. It has trailblazed a "commercial registration special zone" to provide integrated services for enterprise operations, policy implementation, and issue resolution.

Furthermore, strategic partnerships have been forged with universities, lawyer associations, and financial institutions to provide resources and assistance to market entities. Since 2023, over 4,095 small and micro enterprises have received credit support totaling 23.86 billion yuan ($3.28 billion), with loans amounting to 16.39 billion yuan, while 3,233 individual businesses have been supported with credit totaling 3.95 billion yuan and loans amounting to 3.19 billion yuan.

Editor: Xu Zhitian