China jumps to 31st in World Bank global ranking
The country scored 77.9 and ranked 31st, up from the 46th a year earlier, among the 190 economies in ease of business ranking, according to an annual report released by the World Bank Group on Oct 24.
China is among the economies with the most notable improvement in business climate, said the report.
Key reforms highlighted in the report include: implementing a preferential corporate income tax rate for small enterprises, reducing the value added tax rate for certain industries and enhancing the electronic filing and payment system. Among other key reforms are simplifying exporting and importing by implementing advance cargo declaration, upgrading port infrastructure, optimizing customs administration and publishing fee schedules.