On October 31, the World Bank released its report of “DOING BUSINESS 2019: Training for Reform”. In the report, regarding the indicator of Trading Across Borders, China got a score of 82.59, up from 69.91 of last year, and ranked the 65th, a great jump by 32 from last year, becoming one of the economies with the most remarkable improvement in business climate.

According to the report, over the past year, China implemented reforms in all the evaluation indicators, with numerous highlights in cross-border trade facilitation as follows:

China reduced the time and cost to export and import by implementing a Single Window platform, eliminating administrative charges, increasing transparency and encouraging competition. Regarding its export, documentary compliance time was reduced from 21.2 hours to 8.6 hours, documentary compliance cost reduced from USD 84.6 to USD 73.6, and border compliance cost reduced from USD 484.1 to USD 314; regarding its import, documentary compliance time was reduced from 65.7 hours to 24 hours, documentary compliance cost reduced from USD 170.9 to USD 122.3, border compliance time reduced from 92.3 hours to 48 hours, and border compliant cost reduced from USD 745 to USD 326.

Regarded as the “wind vane” for investment, the World Bank’s DOING BUSINESS report provides annual evaluations on 190 economies worldwide, covering 10 indicators such as Trading Across Borders.