Shanghai plans to promote more trade and investment and improve its business environment based on the rule of law. [Photo/WeChat account: pdnews]

Shanghai will strengthen efforts to build a world-class business environment that is market-oriented, law-based, and international, according to Shanghai mayor Gong Zheng at a video conference held in the city on Feb 19.

Gong said that over the past three years, Shanghai has made 377 reforms with notable results. The local government will continue to encourage bold experimentation in order to further energize market entities and increase the quality of economic growth.

He added that the city will work to deepen reforms, streamline administration, delegate power, improve regulation, and upgrade services in an effort to improve its business environment.

Gong also emphasized the need to unleash market vitality and creativity and make things more convenient for market players.