Xiamen rewarded for favorable business environment

Xiamen in East China's Fujian province has been rewarded 45 million yuan ($6.54 million) by China's Ministry of Finance for creating a favorable business climate for small and micro businesses.

In 2015, Xiamen was included among the first group of demonstration cities in China for small and micro companies. From 2015 to 2017, the city received 900 million yuan in financial support from the central government.

In 2018, small and micro companies in Xiamen reaped in 649.27 billion yuan, secured 2.44 billion yuan in technical contracts and owned 56,377 patients, respective increases of 48.62, 333.63 and 171.62 percent over the figures from 2014.

From 2015 to 2018, Xiamen's small and micro companies enjoyed 2.86 billion yuan worth of taxes and administrative fees deduction and created 888,400 jobs, a cumulative growth of 89.03 percent over the number of jobs offered by these companies in 2014.

Various maker spaces in the city saw rapid development. By the end of 2018, Xiamen was home to 203 maker spaces, 22 entrepreneurship demonstration bases for small and micro companies and 28 high-tech business incubators.

The city also rolled out effective measures to facilitate business transactions and encourage technological innovation, including a "single window" system for the foreign trade and online technology trading markets, which were later replicated around China.