Wudang adds 68,783 new market entities in 2020

In Guiyang, the capital city of Southwest China's Guizhou province, Wudang district has taken several effective measures in the past year to ensure economic and social development while limiting the negative impact caused by the COVID-19 pandemic, according to local authorities.

In 2020, the district added 68,783 new market entities, with registered capital totaling 7.63 billion yuan ($1.18 billion) and the growth rate hitting 273.92 percent, ranking first in 18 urban areas in the province.

The district established a leading group for the protection of market entities, analyzed problems in developing market entities and issued plans to support their growth. It also lowered the threshold for entrepreneurship, improved and standardized preferential policies for investment promotion, set up special funds for investment promotion and supported the construction of industrial projects.

It improved government affairs services, streamlined service procedures, and promoted full electronization of the entire process of corporate registration to improve processing efficiency and save time for enterprises.

Wudang also assisted market entities that have difficulties in operation. In 2020, it offered 14.33 million yuan of financial subsidy support to help companies in need.

While normalizing pandemic prevention and control work, various district departments cooperated in market supervision, investigating and punishing illegal activities related to food, medicine, healthcare products, Chinese baijiu, e-commerce and advertising. The oversight helped to ensure a fair competition review system.

Also, the district focused on improving the quality of enterprises. It promoted advanced quality management concepts to companies and urged market entities to strengthen quality management and establish advanced quality models.