Yantai further improves its business environment

(chinadaily.com.cn)| Updated : 2022-08-01

Print Print

Yantai city in East China's Shandong province has rolled out innovative measures in recent years to forge a favorable business environment to attract investment.

Yantai Yelin Textile Printing and Dyeing company is one of the beneficiaries of the city's efforts to improve its business environment.

Wei Jinlong, president of the company, said that earlier this year, his company signed a contract with an overseas client, and the client required the company to issue relevant environmental protection documents, which placed Wei in a dilemma.

"Our company was established a long time ago, and some of the completion acceptance materials have been lost. If we couldn't get the sewage permit and other relevant environmental protection documents, we may have lost the big deal," according to Wei.

Thanks to the efforts of the Yantai Municipal Administration Examination and Approval Bureau, Wei's company received new relevant environmental protection documents in a very short time, which helped his company solve the problem.

As one of the important cities in Shandong to accelerate the conversion of new and old kinetic, Yantai has launched the "Yanbixing" brand to enhance its business environment. The city has arranged a special team to offer tailor-made services to enterprises. A government service hotline was also opened, and has helped enterprises solve problems efficiently and effectively.

Yantai has adopted a range of pro-business relief policies that apply equally to all companies registered in the city. This year, Yantai has unveiled a slew of supportive policies to ease enterprises' burdens, including tax refunds, tax and fee cuts, and it is expected that the new tax and fee reduction policies will reduced the burden on market entities by more than 10.5 billion yuan ($1.55 billion) annually, according to Zhao Xiaofeng, deputy secretary-general of the Yantai municipal government.

Thanks to local government's continuous efforts in bettering its business environment, a total of 400 large-volume key industrial projects, and good benefits have been settled in Yantai since 2018, which have injected strong impetus into the city's conversion of new and old kinetic.