Shandong county seeks to stimulate vitality of business entities

An employee of a company in Dong'e county registers a business. [Photo provided to chinadaily.com.cn]

Dong'e county in Liaocheng, Shandong province has been bolstering efforts to promote the facilitation of business registration processes this year. This includes optimizing the business environment, streamlining procedures, reducing operational costs, and providing support for struggling enterprises.

Wu Zhen, head of a local automotive charging service company, completed a "one license, multiple addresses" registration with the assistance of the county's administrative approval service bureau.

As the company expanded and required additional operational sites, the bureau's policy allowed Wu to bypass the limitations of a single business license, saving both time and money.

Dong'e county has also introduced an innovative "one-stop business suspension filing" service. This mechanism enables businesses to enter a dormant state, reducing maintenance costs while preserving brand value and offering security for struggling enterprises.

The county's financial departments and institutions have been encouraged to improve their services and loan products. For example, Dong'e Blue Sky and Seven Color Building Materials C secured government-subsidized financing through patent pledge loans.

Dong'e county is also helping financial institutions to offer specialized, differentiated, and personalized financial products to various business entities. By the end of March, the total loan balance across 10 banks in Dong'e reached 21.91 billion yuan ($3.03 billion), with 8.32 billion yuan allocated specifically for business loans.

Tian Xuechao, head of Dong'e county, said that the county will continue to strengthen service guidance, create an innovative and entrepreneurial environment for small and micro enterprises, and foster the development of more business entities in order to drive high-quality growth in the county. (Edited by Yang Yi)