The 2024-25 Urban Business Environment Innovation Report, released in Beijing on Oct 28, recognized Qingdao as one of China's top 10 cities for business environment innovation, marking its first appearance on this prestigious list. Qingdao is also the first city in Shandong province to receive this honor.

The list of top cities also includes Beijing, Shanghai, Guangzhou, Chengdu, Hangzhou, Shenzhen, Hefei, Quanzhou, and Nantong. Qingdao received special recognition in the categories of "opening-up enhancement" and "regulatory mechanism innovation".

Now in its sixth year, the report is the first third-party evaluation in China's business environment assessment. It evaluates 45 major cities, including municipalities, provincial capitals, and economically dynamic cities with a GDP exceeding 1 trillion yuan (approximately $140.7 billion).

The evaluation framework is based on six key dimensions: market mechanism reform, innovation environment improvement, opening-up enhancement, regulatory innovation, public service optimization, and rights protection.

As the 14th Five-Year Plan period (2021-25) comes to a close, the report highlights the latest achievements in optimizing urban business environments across China. It underscores cities' efforts to create market-oriented, law-based, and internationalized business conditions, and provides valuable insights for the upcoming 15th Five-Year Plan period (2026-30).

The 2024-25 Urban Business Environment Innovation Report is released in Beijing on Oct 28, naming Qingdao as one of China's top 10 annual business environment innovation cities. [Photo/WeChat account: qd12301]