Research Article
Research on Comprehensive Evaluation of the Business Environment in Wuhan Based on Factor Analysis
@INPROCEEDINGS{10.4108/eai.18-11-2022.2327169, author={Jianwen Zhan and Yuanning Hu}, title={Research on Comprehensive Evaluation of the Business Environment in Wuhan Based on Factor Analysis}, proceedings={Proceedings of the 4th International Conference on Economic Management and Model Engineering, ICEMME 2022, November 18-20, 2022, Nanjing, China}, publisher={EAI}, proceedings_a={ICEMME}, year={2023}, month={2}, keywords={business environment; covid-19 epidemic; comprehensive competitiveness; factor analysis}, doi={10.4108/eai.18-11-2022.2327169} }- Jianwen Zhan
Yuanning Hu
Year: 2023
Research on Comprehensive Evaluation of the Business Environment in Wuhan Based on Factor Analysis
ICEMME
EAI
DOI: 10.4108/eai.18-11-2022.2327169
Abstract
The COVID-19 epidemic has seriously damaged the business environment in various regions. In order to study the current business environment situation, the article uses the domestic and international business environment evaluation index system for reference, and establishes a factor analysis model to analyze the business environment of 28 provincial capitals before and after the epidemic from the four dimensions of investment, trade, production and management, and talent development. The KMO test of statistical data is above 0.8, and the final interpretation rate of extracting three factors is above 0.8. Based on this, the scores and rankings of cities are calculated. The conclusion shows that the main factors of the business environment in each city are particularly affected by the epidemic situation, and the international trade environment has also undergone tremendous changes. In addition, the cities with the higher comprehensive scores have a stronger ability to resist the impact of the epidemic. Wuhan ranks forefront in the overall level of the business environment in China, but it still lags far behind Beijing, Shanghai, and other economically developed cities, and its shortcomings in the business relations are magnified. According to the research conclusions and the current situation, this article puts forward some suggestions on optimizing the business environment.