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The latest figures from the World Bank "Doing Business Database" provide evidence that there is room and need for reforms such as those outlined in the 383 proposals. Although China's overall competitiveness when it comes to doing business rose three places from 99th to 96th out of 189 economies, individual indicators show a mixed performance:

• Starting a business: China has fallen back five places back to 158th from 153rd.

• Dealing with construction permits: China ranks 185 out of 189

• Regulating property: ranked 48

• Getting credit: ranking of 73 - up 9 over the previous year's ranking

• Protecting travelers: 98th

• Trading across borders: 74th

• Enforcing contracts: 19th (no change)

• Resolving insolvency: 78th (up slightly)

These broad measures show that in terms of the efficiency and competitiveness of its economy, China continues to make improvements, but at the same time, there is a considerable way to go, and continuous improvement and adaptability to change remain key ingredients of China's future success.

The author is a columnist with China.org.cn. For more information please visit: http://www.china.org.cn/opinion/eugeneclark.htm

Opinion articles reflect the views of their authors, not necessarily those of China.org.cn

 

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