[Photo/VCG]

The All-China Federation of Industry and Commerce recently released a report that evaluates the business climate of domestic provinces and cities from the perspective of private sector enterprises. Zhejiang ranked second among all provinces.

The report gathered the opinions of 41,275 private sector companies from 200 cities, focusing on five indicators: factors, rule of law, government administration, market, and innovation.

Zhejiang has been devoted to improving its business climate in recent years, especially by promoting digital governance.

By establishing online review and approval platforms, Zhejiang has streamlined administrative approval procedures for companies, cutting the time needed for startup establishment to just one day and the related fee by 20 percent.

Statistics show that by the end of September, around 94.6 percent of the administrative affairs and public services in the province can be handled online, with the settlement rate reaching 80.2 percent.

Zhejiang has also been working to create a law-based and international business climate by introducing a negative list for market access and establishing international-standard business climate evaluation systems.