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Wang Qi: Free Trade Area Provides Zhengzhou with Superior Business Environment

Source:   Time:2019-04-08 23:59   Pageviews:993

On April 8th, Zhengzhou Forum on International Business Environment of the 13th China Henan International Investment & Trade Fair (CHITF) was held. The forum centered on the theme of business environment. Famous experts at home and abroad were invited for communication and discussion with the same purpose in promoting the business environment in Henan as well as providing strong support for Henan to comprehensively improve its openness and foster new development growth driver.

“Zhengzhou has a long history and favorable business environment, which can be regarded as the starting point of the Silk Road of Zhengzhou. Today, Zhengzhou is the frontier of innovation, a green city and an international free trade port. Before the forum, we were pleased to learn from Vice Governor Huang Qiang that Zhengzhou has been chosen as a node city of the Grand Canal’s Henan section. This forum just aptly takes the opportunity of the national development of the Grand Canal." Wang Qi, researcher at the International Environmental Law Research Center of China University of Political Science and Law and China-Latin think tank expert from the B&R International Commercial Mediation Center, said in the speech.

"Zhengzhou Zhongyuan Tower is surrounded by criss-crossing canals leading to the inland. And there is also a modern bridge serving as highway to the Zhengzhou trading port and Zhengzhou Xinzheng International Airport." Wang Qi said that in fact this business environment is very similar to the world’s first stock exchange in Amsterdam, the Netherlands. “This geographical advantage Amsterdam boasts plays a crucial role for its origin of modern business. During the 16th century, the Age of Discovery created an emerging class called entrepreneurs in the world and they needed to elect a gathering place for business. Business representatives of all countries chose Amsterdam due to its canals and bridges. Zhengzhou has a similar advantage."

How to create a favorable business environment? Wang first talked about the World Bank's legalization index. "Apart from regulation, transparency is listed as another key index. Our government's regulation must be open to enterprises and the public, because only an open and transparent business environment can make people feel fair."

"China has made great efforts in terms of regulation during the past two years. On June 27, 2018, the Supreme People's Court announced to set up international commercial courts. Because more and more Chinese enterprises “go global” in recent years, they do need protection."

"Following policies of the Supreme People's Court, two international commercial courts have been set up in Shenzhen and Xi'an last year. Many cases have been accepted. A regulatory body cannot live without regulatory rules. Therefore, our country has formulated many regulatory rules in recent years."

"Reform can never stop. The business environment is a time-honored yet innovative topic. It originated from the Age of Discovery in the 16th century. As for the regulatory rule, it developed from the medieval business association. The business environment started from soft environment to hard environment and then returned to soft environment. We can well explain it under the framework of the rule of law. Our commercial law was at first self-regulatory rules of a self-regulatory organization by business associations. Step by step, national and local regulatory agencies appeared which formulated more rigid commercial law. Finally, we go back to the original point when these regulatory rules have been formed and everyone has the awareness of them. We return to self-discipline. The business environment should be supervised by both the market and the regulation. Yet, the legal business environment needs fair and efficient supervision."