Shenzhen strives to improve business environment for private enterprises development

Shenzhen, a city emerging as China's leading innovation hub, has made great efforts to enhance its business environment over recent years, in the interest of further stimulating the vigor and vitality of private businesses.

Dan Dan, secretary general of Guangdong-Hong Kong-Macao Greater Bay Area Standard Innovation Alliance, introduced major measures Shenzhen has taken in this endeavor.

"We have taken the lead in promoting reform of the business registration system, strengthening ongoing and ex post oversight, and deepening reform leading to separating out the business license from certificates required for starting up a business. The various reform measures we've adopted focus on lowering the threshold for market access and giving rise to fair, open and transparent market rules," she said.

Mindray is a Shenzhen-based company specializing in the manufacturing of high-end medical equipment and apparatus. Recently, it launched a type of AI handheld ultrasound equipment.

Now, Mindray has emerged as one of China's largest and a global leader in medical equipment manufacturing and solutions, thanks to the government's support.

"In particular, the government has made significant efforts to support the development of high technology, and to cultivate a favorable vibe for us high-tech enterprises in terms of funding, land use, policy making and environment," said Li Xiting, president of Shenzhen Mindray Bio-Medical Electronics.

Improving the business environment has been a key focus in post-Spring Festival official meetings across China. For example, authorities in China's financial hub of Shanghai has released "Version 8.0" of an action plan to improve the business environment, spelling out 58 measures to elevate the business environment to a new level.

Official data show that by the end of September 2024, the number of registered private companies nationwide had exceeded 55 million. And the private sector now accounts for over 70 percent of technological innovation.

The Private Enterprises Symposium was held on Monday in Beijing, bringing together representatives from some of the country's most eminent private companies. Addressing the symposium, Chinese President Xi Jinping urged efforts to promote healthy and high-quality development of the country's private sector.

Shenzhen strives to improve business environment for private enterprises development

Japan began releasing oil from its reserves Monday to ease supply concerns amid the escalating Middle East conflict and ensure stable distribution of petroleum products, local media reported.

The country is initially releasing 15 days' worth of reserves held by the private sector, with a month's worth of government-held oil to follow, according to Kyodo News.

The Japanese government will lower the mandatory reserve requirement for oil refiners and trading firms from 70 days to 55 days, enabling them to utilize part of their existing inventories.

Last Wednesday, Prime Minister Sanae Takaichi announced the government's plans to release about 80 million barrels of oil, the largest release ever. The amount equals 45 days of domestic consumption and is 1.8 times the volume released following the devastating earthquake and tsunami that rocked northeastern Japan in 2011, Kyodo News reported.

Preparations are underway to sell oil from government-held reserves to wholesalers.

This marks the seventh time Japan has drawn on its oil reserves since the system was introduced in the 1970s. As of the end of 2025, Japan held an oil reserve equivalent to 254 days of domestic demand.

Japan relies on the Middle East for more than 90 percent of its crude oil imports, making it highly vulnerable to the effective closure of the Strait of Hormuz following the outbreak of the Middle East conflict at the end of February. The disruption has driven sharp rises in crude oil prices in the country.

Japan begins oil reserve release amid Mideast conflict