Beijing will implement comprehensive measures to optimize the business environment and align with the World Bank's new framework to assess the business environment in 2024, aiming at creating a world-class business environment characterized by market orientation, rule of law, convenience, and internationalization.

The city will formulate standardized procedures for administrative licensing matters and deepen reforms, including "one integrated license" policy and "All-in-One-Go" government services.

It will also advance comprehensive supervision through integrated approaches, increase the proportion of non-onsite supervision, and enhance a pilot program on digital market supervision.

Beijing witnessed a 20.3 percent growth in newly established businesses in 2023, bringing to total number to over 2.11 million