China Media Group recently released the 2023 Urban Business Environment Innovation Report, and Xi'an, capital of Northwest China's Shaanxi province, was selected as a city of urban business environment innovation.

This marked the third year in a row that the city has received the honor.

In recent years, Xi'an has accelerated the development of its business environment.

Reforms, such as "approval for operation upon admission" and "one license for multiple locations", have been explored, allowing business registration to be completed in just half a workday.

The city is now home to 3.22 million market entities.

People handle related business at a service area of Yanta district in Xi'an. [Photo/Xi'an Daily]

Innovative financing models such as technology transaction loans and technology intellectual property securitization have helped technology companies obtain loans totaling 1.06 billion yuan ($145.83 million).

Additionally, eight new national-level technology business incubators have been established, with the number of national high-tech enterprises and technology-based small and medium-sized enterprises reaching 13,500 and 16,000, respectively.

A total of 147 government service stations have also been established to facilitate one-stop services for enterprises, and 28.67 billion yuan in fiscal policy funds has been disbursed.

Moving forward, Xi'an will continue to develop a first-class business environment that is market-oriented, law-based, and international to provide higher-quality services and guarantees for enterprises.