Shoppers browse products at a Sam's Store in Suzhou. [Photo/Suzhou Daily]
The All-China Federation of Industry and Commerce recently disclosed its 2023 annual business environment survey, designating Suzhou as the "Best Business Environment City."
This noteworthy recognition signifies Suzhou's fifth consecutive year as the paragon of a favorable business atmosphere.
A remarkable 140,000 private enterprises actively engaged in this year's all-encompassing survey. Introducing an innovative ranking methodology, the All-China Federation of Industry and Commerce presented the top 10 provinces and cities without specific rankings.
Suzhou's prominence in this domain dates back to 2022 when it led the province by enacting the "Regulations on Optimizing the Business Environment" through legislation, consolidating its position as a leading business destination.
Demonstrating a commitment to continuous enhancement, Suzhou has consistently elevated its business environment initiatives for an impressive six consecutive years since 2018.
As of Nov 2023, Suzhou hosts a total of 896,500 private enterprises. The city boasts an impressive count of 26 enterprises listed in the "2023 China Top 500 Private Enterprises" and 25 in the "2023 China Top 500 Private Manufacturing Enterprises."
Remarkably, six private enterprises achieved a revenue surpassing a trillion yuan, constituting 55 percent of the total number of trillion-yuan enterprises in the province. Furthermore, three private enterprises have secured spots in the Fortune Global 500 list.