Jimu News:

We have noticed that Hubei's number of business entities has increased rapidly, with over 1.6 million new entities established last year, hitting a record high. Could you please describe how Hubei is optimizing its business environment? What are the plans for the next steps? Thank you.

Wang Zhonglin:

Thank you for your high attention to the improvement of the business environment in Hubei. Mr. Li will answer your questions.

Li Donghui:

Hubei is committed to delivering business services that are closely aligned with market needs and public services that are easily accessible to the community. The province is actively working to create a premier business environment that appeals to both local businesses and those from other regions. We have made notable advancements in the "Business Environment Evaluation by Ten Thousand Private Enterprises" national survey, continuously moving up for three consecutive years and ranking among the top nationwide in 2023. Our main practices are as follows:

First, we have placed emphasis on process reengineering to stimulate the vitality of business entities. Centered on the principle of "promoting one-stop government services, " we have widely promoted 52 frequently mentioned items, such as "I want to open a supermarket," across the province, ranking second nationwide in terms of quantity. This has enabled us to achieve a streamlined process of "one-form application, one-window acceptance, and one-time completion." Additionally, we have fully implemented initiatives such as "integrating multiple certificates into one" and "one license per industry," significantly reducing the bureaucratic burden. For instance, procedures for establishing businesses like hotels and internet cafes have been simplified from nine permits to just one. Furthermore, Hubei has been acknowledged for its outstanding performance in the State Council's evaluation of integrated government service capabilities, consistently securing a very high position in the rankings for two consecutive years.

Second, we have focused on restructuring mechanisms to bolster the momentum for sustainable economic growth. We have innovatively implemented reforms in the comprehensive performance evaluation of investment projects, establishing an integrated management service "hub" covering the entire lifecycle of projects, from preliminary planning to construction, settlement, and operation. This initiative has significantly reduced the approval time for engineering construction projects from an average of 120 days to 67 days. For example, the Wuhan Eswin Semiconductor project, with an investment of 15 billion yuan, commenced construction just 42 days after the contract was signed. Consequently, the province has witnessed continuous enhancements in investment efficiency, benefits, and effectiveness. In the first quarter of this year, investment surged by 5.8% year on year, 1.3 percentage points higher than the national average. Notably, private investment saw a remarkable increase of 3.6%, outpacing the national average growth rate by 3.1 percentage points.

Third, we have addressed cost control to stabilize enterprises' development expectations. We have closely monitored key expenses such as financing, energy, land, logistics, and intermediary services, directly addressing the concerns impacting enterprises. We took the lead nationwide in formulating an operational process diagram focused on cost control to optimize the business environment. This approach makes the business environment quantifiable, evaluable, and observable. For example, we pioneered the construction of a supply chain logistics public information platform integrating the "five networks" of railways, waterways, roadways, airways, and storage, achieving multimodal transportation with a unified ordering system. As a result, the proportion of total social logistics costs to GDP has decreased to 13.04%, 1.36 percentage points lower than the national average. Last year, the province collectively reduced various costs for enterprises by 130 billion yuan, with plans to further reduce costs by over 100 billion yuan this year.

For the next step, we will intensify efforts in five key areas: strengthening policy foundations, building trust in Hubei, enhancing legal frameworks, and implementing other major actions. This will accelerate the development of an integrated low-cost environment and elevate Hubei's business environment to new heights.

That's all from me. Thank you!