Optics Valley continues to improve its business environment
People handle commerce and taxation matters at the government service center in Optics Valley of China. [Photo/cjn.cn]
East Lake High-tech Development Zone (Optics Valley of China) in Wuhan, the capital of Central China's Hubei province, is the national leader for the integration of business registration and tax services, according to local media reports.
Matters related to a company's establishment, business changes and cancellation can now be handled at one time at the zone's government service center, cutting the prepared paperwork by 20 percent and the procedural time by 50 percent.
Now, it takes as little as half a day to register a business in Optics Valley, thanks to the one-stop service windows.
In 2020, Optics Valley saw the establishment of 17,500 companies and handled about 63,500 business changes and cancellations. The zone expects more corporate business registrations in 2021.
According to a zone official, market entities are the main force behind Optics Valley's development and innovation. As such, the zone has been making efforts to provide a better business environment and enhance its service level.
By the end of 2025, Optics Valley sci-tech innovation corridor is expected to be home to more than 12,000 high-tech enterprises. The transformation of company registration procedures will stimulate market vitality and accelerate companies' growth, added the official.