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The Zhejiang Yangtze River Delta High-level Talent Innovation Park in Jiaxing. [Photo/cnjxol.com]

Jiaxing in East China's Zhejiang province has recently taken measures to optimize its business environment, local media reported on March 25.

The city plans to further streamline and improve administrative services for local companies by the end of 2022.

The goal is to make it easier to start a business and receive investment approval in Jiaxing. Under the new measures, all administrative procedures related to starting companies and investment approval can be handled online in just one working day.

The city has also improved the withdrawal mechanism for market players and increased its support for bankruptcy reorganization to lower the cost of withdrawing from the market.

In addition, Jiaxing will set aside more capital for scientific research this year, encourage key companies to pursue technological innovation, and improve the supporting mechanism for intellectual property pledge loans.

Furthermore, the city supports overseas investment and will further simplify the registration process for companies to establish overseas warehouses.

More programs to introduce high-level talent will also be launched, and an additional 200 billion yuan ($31.35 billion) in loans are expected to be available for small and micro-sized businesses and individual businesses.