Ningxia registered 112,000 new business entities in 2024, bringing the total number of business entities in the region to 839,000.
This strong performance can be primarily attributed to authorities implementing measures, including optimizing the business environment and maintaining fair market competition.
Throughout last year, Ningxia's market supervision system promoted the "Efficiently Handle One Matter" initiative and upgraded the "One-Stop Service" platform. This platform achieved data sharing and interconnectivity with eight departments, including public security and taxation, processing 140,000 cases.
The system also strengthened anti-unfair competition and anti-monopoly enforcement in key areas, handling 68 cases of administrative monopoly and false advertising. It standardized administrative penalties, implementing policies such as "no punishment for first-time minor violations" and "tolerance and exemption from punishment", processing 916 cases of no administrative or reduced administrative penalty.
Furthermore, 17 measures were formulated to promote the high-quality development of the private economy. A credit enhancement campaign was also launched, resulting in the return of 16.64 million yuan ($2.30 million) in unreasonable fees to enterprises.
This year, Ningxia's market supervision department will focus on developing the private economy, regularly conducting competition reviews and inspections, and resolutely breaking down hidden barriers to provide more opportunities for private enterprises to participate in major project construction.
It will also strictly implement various tax and fee reduction measures, helping enterprises solve practical issues such as market access and shortening the time required for license processing.
The department will build cooperation platforms between the government, banks, and enterprises, expand the coverage and credit limit of the "Ningxia Quality Loan", and promote financial institutions to extend credit of over 1 billion yuan to 100 enterprises.
Additionally, the department will further expand the mutual sharing and application of electronic business licenses across regions, departments, and industries.