Citing studies showing that the first three years are critically important for the survival of a new enterprise and the fact that China added more than 20 million market entities in 2020 despite unprecedented challenges, Shi Wenxian, a member of the Chinese People's Political Consultative Conference (CPPCC) National Committee and chief partner of accounting firm Zhongshen Zhonghuan, suggested that efforts to improve the business environment and stimulate the market vitality be promoted from three perspectives. 

First, such efforts should shift their focus from introducing measures that facilitate the starting, operation and closure of businesses to offering greater services, such as enabling companies to benefit from top-notch talents, a sophisticated credit system and full-fledged industrial chains. This would not only cut the cost of starting a business but also increase survival rates.     

Second, big data should be increasingly used to improve the business environment and modernize the system and capacity for urban governance. This can be achieved through a coordinated response against discredited companies and applying smart technologies for better urban management. 

Third, the development of the high-end service industry should be accelerated so it can serve as a key catalyst for market vitality. To develop this sector, China need to boost consumption by creating a sound production-supply-marketing pattern for enterprises in the real economy, integrate the improvement of the business environment with government procurement services, generate new consumption forms, and inspire enterprises to commit investment for innovation-driven growth.