In the bustling economic hub of Shanghai's Pudong New Area, a wave of legislative reforms promulgated since 2021 is continuing to sweep through to create a far more positive environment for its businesses to thrive.

Leveraging its status as a "legislative experimental field", Pudong is at the very forefront of enhancing the rule of law to foster a world-class business ecosystem.

Streamlining services

One of the key reforms that has garnered praise from businesses is the streamlining of operational scope adjustments. Companies like Shanghai Zhangjiang Science Gate Technology Development Co Ltd have lauded the new flexibility — enabling them to update their business scopes without the hassle of extensive processes, saving valuable time and resources.

Since the implementation last year of Pudong's measures to deepen enterprise operational scope registration reforms, over 30,000 businesses have benefited from the streamlined procedures.

The initiative has not only reduced administrative burdens, but also spurred business enterprises to focus on innovation and development.

Furthermore, Pudong has introduced groundbreaking measures — such as the China Compulsory Certification exemption policy — aimed at easing mandatory product certification processes.

To date, it has issued 86,000 CCC exemption certificates, involving goods valued at nearly 3 billion yuan ($410.52 million).

The initiative has accounted for approximately one-third of the national total and four-fifths of the city's total — benefiting 500-plus companies in industries such as integrated circuits, biopharmaceuticals, artificial intelligence and aerospace.

The ripple effects of these exemptions have reached over 6,000 downstream user units, underscoring the significant impact of this policy on the business landscape.

Ensuring fair competition, another milestone was the enactment of Pudong's provisions for deepening fair competition reviews on June 1 last year. This mechanism — designed to prevent anti-competitive practices and monopolies — is said to have bolstered its commitment to creating a level playing field for businesses, setting a precedent for other regions to follow suit.

Fostering innovation

Looking towards the emerging sectors, Pudong recently unveiled regulations for the medical device leasing industry, which will take effect on April 25 this year.

By including post-sale leaseback models within regulatory frameworks, the regulations aim to enhance quality control and propel innovation in the biomedical sector.

In a bid to modernize maritime supply chains, Pudong also took the lead in China in implementing regulations overseeing the supply of medicines and medical devices on international vessels — showing its determination to be right in line with global standards and enhancing its competitiveness.

Embracing technological advancements, Pudong rolled out regulations promoting blockchain-enabled electronic documentation applications on Jan 1, 2025 in order to foster a much more cutting-edge business environment.

To date, the innovative legislative landscape in Pudong has seen a total of 23 laws and regulations, 34 management measures and two special chapters in local laws and regulations.

With the comprehensive legislative framework now in place, Pudong is continuing to push the boundaries in enhancing its business landscape. By prioritizing the needs of market players and promoting transparency, it's aiming to set a new benchmark for business-friendly environments.

Source: Pudong Observer