All 150 reform measures included in the business environment improvement action plan 7.0, released in February, were completed by the end of last year, Lu Aiguo, head of the business environment construction department at the Shanghai Municipal Development and Reform Commission has said. In addition, market entities' overall satisfaction towards the implementation of the action plan has reached 96 percent.

Lu revealed this information at a media briefing on Monday. While implementing the reform measures, he added, Shanghai has achieved major goals in four aspects, including introducing a number of first pilot programs by aligning with World Bank standards, improving and optimizing services and supervision for companies, differentiating the development focuses among districts and soliciting joint efforts from society to further improve the business environment.

Many innovations have been made in Shanghai over the past 12 months.

In April, a standardized coordination platform for foreign-invested companies was launched in the city, the first of its kind in China.

The country's first digital port visa was issued at the Lin-gang Special Area of the China (Shanghai) Pilot Free Trade Zone in July, the same month when companies' changed information became shareable between different government departments, and the country's first data product registration pledge financing, valued at 100 million yuan, was provided in Shanghai in December.

A new edition, or business environment improvement action plan 8.0, will be released after the Spring Festival holiday, Lu said.