A view of the waterfront Lujiazui financial district in Shanghai at night. Photo: iStock

China now ranks No.46 out of 190 in the latest ranking of business-friendly countries, according to the report Doing Business 2019 published by the World Bank, The Paper reported.

From 2013 to 2018, the World Bank has raised the ranking of China by 50 places. In reports over the previous two years, China ranked No.78.

Meanwhile, China’s score increased by 8.64 points compared with last year, and it is one of the economies with the greatest improvement in the business environment.

The report used Shanghai and Beijing as sample cities, of which Shanghai had a weight of 55% and Beijing accounted for 45%.

The World Bank evaluates a country’s business environment from ten perspectives, including obtaining construction permits, cross-border trade, taxation, property registration, starting up businesses, access to electricity, protection of minority investors, getting loans, bankruptcy and execution of contracts.

In the past year, China has implemented reforms in seven out of the ten assessment indicators, the World Bank said.

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