The number of business entities in Jiaxing, East China's Zhejiang province, surpassed 800,000 on Feb 13.

This achievement was marked by the successful registration of Zhejiang Chaoli Intelligent Manufacturing Co Ltd. The city has a population of 5.58 million and the milestone means that one in seven Jiaxing residents is now engaged in business.

Zhejiang Chaoli Intelligent Manufacturing, a Hong Kong-invested company, has set up operations in Jiaxing's economic development zone with an investment of $30 million. The company, which specializes in wearable smart devices and electronic components, cited the city's favorable business environment as a key factor in its decision.

In recent years, Jiaxing's market regulation system has led to continuous improvement in the business environment. In 2024 alone, the city registered 102,176 new businesses, averaging 280 registrations per day, an increase of 4.39 percent year-on-year.

Zhou Haifeng, deputy director of Jiaxing's market regulation bureau, said that the city is introducing eight additional measures to further improve the business environment and stimulate market growth.

Key reforms such as streamlining business startups, supporting business transformation, simplifying business relocation, and providing support platforms for entrepreneurs have significantly boosted the market's vitality.