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Taizhou sees entrepreneurs surge with 83,000 new businesses

Updated: Mar 1, 2024 Print
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There's been a significant surge in new business entities in Taizhou city, located in East China's Jiangsu province, according to recent statistics.

In 2023, the city witnessed a hefty increase, with 83,120 households entering the entrepreneurial arena, up 17.91 percent year-on-year.

The performance has been attributed to concerted efforts made to improve the business environment over the past year.

Most notably, an innovative introduction of "Lingchuang Space" has played a pivotal role in nurturing entrepreneurial dreams.

The initial batch of 10 Lingchuang Space platforms, covering an expansive 23,000 square meters, has completed pilot construction. They're said to provide substantial fee exemptions, amounting to nearly tens of millions of yuan (10 million yuan equals $1.39 million), benefiting budding entrepreneurs.

Additionally, Taizhou has actively pursued a streamlined "One-Stop" reform of company registrations – integrating various processes to ensure a more efficient and user-friendly experience.

To further pave the way to establish more businesses, the city has embraced digital empowerment, exemplified by the successful launch of its "Fengcheng Tongban" intelligent registration system in November 2023.

This system is widely said to have demonstrated impressive capabilities, providing intelligent verifications and rendering services to the public and businesses over 20,000 times.

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