The first-class business environment is the core competitive edge of a city. Hangzhou promulgated Regulations of Hangzhou on Improving Business Environment on February 22, putting forward the requirements from multiple perspectives to solve the sore points and crack the hard nuts that have adverse impacts on business environment. 

Advance policy reform and improve guarantee system. The new policy encourages and supports active measures for improving business environment within the legal framework. When conditions permit, units or individuals who make errors or mistakes during the efforts of reforming will be exempted from or alleviated of relevant liabilities. In addition, procedures for the cancellation of registration will be streamlined to facilitate the market entities. 

Strengthen supervision and law enforcement and give priority to credit supervision. The policy puts credit supervision on top priority and proposes to implement credit-based grading and classifying supervision system and take differentiated measures for managing market entities of different credit statuses within the legal authority.