China will accelerate reforms to encourage fair competition in the market, spur the vitality of smaller companies and offer private business owners greater tax incentives to give back to society, which is crucial for the country to achieve the goal of common prosperity, experts said.
The industrial development plans during the 14th Five-Year Plan (2021-25) period for Xi'an – capital of Northwest China's Shaanxi province – reportedly got the green light from the municipal government on Nov 17.
At the beginning of this year, Xi'an Customs launched a series of measures to reduce costs and increase efficiency for Shaanxi foreign trade enterprises and help further stabilize foreign trade.
The city of Xi'an, capital of Northwest China's Shaanxi province, recently began implementing its business environment development blueprint for the 14th Five-Year Plan (2021-25) period.
The city of Xi'an – capital of Northwest China's Shaanxi province – has rolled out a series of policies to attract people currently working elsewhere in the country at various levels and in different areas of industry to come and settle there.
Government-led investment and preferential tax policies can be the key driving forces of technology development in China, while policymakers are continually innovating on financing measures, analysts said.
Xi'an, capital of Northwest China's Shaanxi province, has enacted a series of subsidy policies to boost the development of modern finance.
China's unwavering efforts to deepen reform and opening-up are set to provide more business opportunities to foreign investors and contribute further to world economic recovery, according to experts and business leaders.