Video by english.shanghai.gov.cn

Building on existing measures that have positioned the city as a leader in 22 World Bank business environment indicators, Shanghai released its latest action plan on Jan 4 aimed at further accelerating the development of its world-class business environment, according to official sources.

Formally known as Shanghai's action plan to accelerate the creation of a world-class business environment (2026), the new edition aims to foster a world-class business environment, stimulate the vitality of various market entities, and enhance the city's attractiveness to high-end domestic and international resources, according to Chen Jining, Party secretary of Shanghai.

"During the 15th Five-Year Plan (2026-30) period, we will continue to prioritize the optimization of the business environment as a key driver of high-quality development, further deepen high-level opening-up, attract top enterprises and talents from home and abroad, and fully unleash innovation and creativity," Chen said.

The new action plan, the ninth of its kind issued consecutively by the Shanghai municipal government, consists of 26 tasks across four key areas.

As a continuation of previous versions, this year's plan features targeted task arrangements and more concise wording, according to Kong Yuan, deputy head of the business environment construction division at the Shanghai Municipal Development and Reform Commission.

Kong said the latest plan reflects a more pragmatic approach and incorporates Shanghai's characteristics, noting its streamlined length compared to last year's version.

"As an international metropolis, Shanghai can play a leading role in improving the business environment, with successful practices that can be promoted and replicated in other cities. Such efforts also demonstrate China's continued commitment to advancing reform and opening-up, which will further facilitate investment attraction," said Lu Ming, a professor with Shanghai Jiao Tong University's Antai College of Economics and Management.