Ningbo, a city in East China's Zhejiang province, unveils an action plan to further optimize the city's business climate. [Photo/WeChat account: nbfb0574] 

Ningbo, a city in East China's Zhejiang province, recently unveiled an action plan to further optimize the city's business climate.

According to the plan, the city will step up efforts to improve administrative services and reform the handling of enterprise-related affairs so as to build a law-based business climate in line with international standards. 

The city will also work to enhance administrative, bidding, and procurement services.

Reforms will be made to streamline business procedures such as enterprise registration, applications for utility and construction permits, paying taxes, and dissolving enterprises. 

Meanwhile, more financing services, stronger intellectual property protection, and better talent cultivation services will be offered to market entities. 

In addition, the city aims to reduce processing time for credit approval to just two workdays and ramp up financial support for enterprises. 

An additional 35 billion yuan ($5.07 billion) in loans will also be allocated by the government for small- and micro-sized enterprises at lower costs.

As a foreign trade hub of China, Ningbo plans to improve customs clearance through the digitalization of the customs declaration process.

Efforts will also be made to speed up the construction of public service platforms for intellectual property rights and improve vocational training.

The city aims to train a total of 180,000 skilled personnel this year, according to the plan.