Top-class business environment helps foster new companies

Beijing takes the needs of market entities as a top priority and is creating a world-class business environment, allowing more enterprises to thrive in the capital.

Market entities are the micro foundation of economic operation. Their quality and quantity are of great significance in promoting economic growth, technological progress and employment. In the recently announced national evaluation of market entity development quality, Beijing ranks first.

Currently, the total number of market entities in Beijing exceeds 2.1 million, with nearly 40 percent being high-tech enterprises. Since January, the capital has added an average of more than 800 new enterprises each day.

Gao Niandong, Party secretary and head of the Beijing Administration for Market Regulation, said that Beijing continues to minimize the administrative procedures for enterprises’ business registration and other issues. By increasing the application of the electronic business license through the “one license for all” initiative, it has become a universal pass for enterprises to handle e-government affairs in all scenarios. For example, when participating in government procurement bidding, an enterprise can use a single electronic business license to achieve “online processing, interprovincial access and zero cost”.

In the first two months of this year, the electronic business license was accessed more than 10 million times, greatly assisting enterprises, with a cumulative usage of 150 million times, ranking first in the country.

He mentioned that Beijing continues to create a more equitable development environment. It consistently regulates improper competition and intervention in the market, vigorously rectifies illegal charges related to enterprises, and helps market entities alleviate operational pressures.

“Governing the administrative inspection process and reducing unnecessary disturbances have always been the hope of market entities,” Gao said, adding that the administration takes the lead in coordinating comprehensive supervision throughout the city, always starting from the perspective of market entities.

Beijing has also implemented supervision reform in various industries, utilizing modern information technology such as artificial intelligence and big data screening to enhance regulatory efficiency. It aims to have non-site inspections account for more than 60 percent by the end of 2026 and about 80 percent by the end of 2027.

Beijing is the largest advertising market in the country, with a total revenue of 302.4 billion yuan ($42 billion) in 2023. Nearly one-third of the leading advertising companies in the country are based in Beijing.

To boost the confidence and expectations of advertising enterprises, the Beijing Administration for Market Regulation, in conjunction with 10 departments, has introduced key measures to promote the growth of their revenue in the city. The measures address issues such as enterprise financing and loans, the identification of high-tech enterprises, the construction of advertising industry parks and local government financial support.

In March, the number of advertising companies registered in Beijing increased from 1,077 to 1,206, a growth of 11.9 percent year-on-year.