Hangzhou, capital city of East China’s Zhejiang province, saw an increased number of market entities in the first half of the year, according to the municipal administration for market regulation.

In the Jan-July period, Hangzhou welcomed 136,600 market entities, up 21.09 percent year-on-year.

“The rapid growth of newly-established market entities reflects investors’ confidence in the development of Hangzhou and also in the city’s robust economy,” said Fu Xiaohong, director of the bureau’s administrative examination and approval department.

Investment attraction is an important way to bring in high-quality companies.

In the first six months of the year, Hangzhou welcomed STO Express and ZTO Express’ international headquarters, YTO Express’ national engineering laboratory, as well as Yunda Express’ global innovation center in an effort to boost its intelligent logistics industry.

A group of technology companies, which are commercialization results of the research findings of universities and research institutes, were also established in the city.

For example, Doctor Ma Lijia, director of the functional genomics and bioinformatics laboratory of West Lake University, founded a gene technology company in the city to engage in system development of gene editing technology by her self-developed platform.

A more favorable business environment is another contributor to the increased number of market entities.

This year, Hangzhou launched an online system where people can apply for, modify, or cancel their business licenses. Currently, nearly 90 percent of the business licenses in the city can be applied for online.

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