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China is among the economies with the most notable improvement in business climate, according to an annual report released by the World Bank Group on Thursday, which compares business regulation in 190 countries and regions.
China is rapidly developing in terms of innovation and a batch of high tech Chinese companies have emerged, said Yves Morath, counselor and head of the Swiss Business Hub China at the Embassy of Switzerland in China. He emphasized that the nation has become the most significant export market for Switzerland in Asia.
China is implementing a national AI development plan that aims to build a 1 trillion yuan (7.9 billion) AI industry by 2030, which is forecast to stimulate as much as 10 trillion yuan in related business.
China has rolled out a series of targeted measures to support SMEs, which were among the hardest hit by the epidemic.
China has upgraded its average broadband speed up to 49 Mbps and will eliminate charges for domestic roaming and long-distance calls this year.
