BY SILVI WRITER
Doing business in China is getting much easier, as the country ranks significantly higher in a latest World Bank report.
China ranks the 46th, compared to the 78th place in last year, in Doing Business 2019: Training for Reform, the 16th in a series of annual reports investigating the regulations that enhance business activity and those that constrain it.
The report presents quantitative indicators on business regulation and the protection of property rights that can be compared across 190 economies.
In this year’s report, New Zealand has been named the easiest place in the world to do business, followed by Singapore and Denmark.
Hong Kong is on the 4th place, one place higher compare to last year. Taiwan ranks the 13th, two places higher.
The ranking uses 11 indicators to measure aspects of business regulation: starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts, resolving insolvency and labor market regulations.
China ranks impressively high in enforcing contracts (6th) and getting electricity (14th), but relatively low in terms of dealing with constructions permits (121st) and paying taxes (114th).
In terms of starting a business, China ranks the 28th.
“An economy cannot thrive without a healthy private sector”, it goes in the report.