Tianjin nationally ranks in top 10 in business environment

Tianjin has been comprehensively ranked in top ten according to the 2018 China's Urban Business Environment Report released by CCTV on  Dec. 12 in Beijing.

Among individual indicators, Tianjin is ranked third in terms of governmental environment, and fourth in financial service.

The report is the first national-level-media released report on Chinese city business environment. Its rankings are based on City Statistical Yearbook issued by the National Bureau of Statistics and regional statistics bureaus as well as Statistical bulletin on national economic and social development.

Referring to World Bank, China's seven-dimensional evaluation index system includes infrastructure, human resources, financial services, government environment, legal environment, innovative environment and social environment.

The top ten cities in China's urban business environment rankings are Beijing, Shanghai, Shenzhen, Guangzhou, Chongqing, Chengdu, Tianjin, Hangzhou, Nanjing, and Xi'an. Top 10 cities in each dimension have also been announced.

Integrity and efficient government administration is an important indicator which reflects the efficiency, transparency, and supervision of the government's administrative management. The leading position of Tianjin indicates its recent years of improvement in public service, and administrative efficiency.

Tianjin has also shown outstanding performance in financial service. It plays an important role in attracting investment and promoting industrial transformation in the city. The indicator mainly focuses on capital use of a certain city, financing ability of SMEs, and the overall development momentum of the financial industry.

In 2018, China's business environment ranked 46th in the world, a significant increase of 32 places over last year according to World Bank. It marks the achievements China has made in improving the business environment, and lifting market restrictions.