An aerial view of Hangzhou [Photo/hangzhou.com.cn]

Hangzhou released detailed plans to develop a world-leading business climate that accord with the standards given by the World Bank.

The plans involve seven reforms, including reforms of business systems, the approval of construction projects, financing and loans, municipal administration services, tax services, and trade facilitation.

Representatives from the Hangzhou Development and Reform Commission said that a strong business climate means strong productivity.

Using international standards as benchmarks, Hangzhou hopes to press ahead with reforms and promote high-quality growth.

Hangzhou authorities regard the ease of opening a business as an important indicator of the strength of its business environment.

The city has already managed to reduce the time needed for approving new startups to just one day.