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China deepens reform of business permits to boost market entities

Abstract : A full-coverage listing-management system will be adopted for enterprise-related business licensing items nationwide starting from July 1, said a State Council circular released Thursday.

BEIJING, June 3 (Xinhua) — A full-coverage listing-management system will be adopted for enterprise-related business licensing items nationwide starting from July 1, said a State Council circular released Thursday.

At the same time, more reforms of the examination-and-approval system will be launched in pilot free trade zones (FTZs), the circular said.

A digital-license system for businesses will be available nationwide by the end of 2022, with paper materials no longer needed if the target information can be obtained via the digital-license system.

By the end of 2022, a simplified, highly efficient, fair and transparent industry-access rule with a low threshold and strict management will be established in an effort to make administrative operations more convenient and predictable for market entities.

A total of 68 enterprise-related business licensing items will be annulled nationwide, with another 14 in pilot FTZs, to eliminate operating obstacles in fields such as foreign investment and trade, engineering construction, transport and logistics, and agency services.

A total of 15 enterprise-related business licensing items will be transformed into record-filing items, with another 15 in pilot FTZs, to grant market access in fields such as trade and circulation, education and training, medical services, food and finance.

All enterprise-related business licensing items will be included in the listing for management. The listing will be dynamically adjusted and updated, and announced to the public for the purposes of social supervision.

In the first five months, about 135,800 new enterprises were set up in pilot FTZs, up 60.52 percent year on year, and 30 percentage points higher than that of new enterprises set up across the country in the same period, according to the State Administration for Market Regulation. Enditem

About Xinhua Silk Road

Xinhua Silk Road (en.imsilkroad.com) is the Belt and Road Initiative (BRI) portal.China’s silk road economic belt and the 21st century maritime silk road website,includes BRI Policy, BRI Trade, BRI Investment, Belt and Road weekly, Know Belt and Road, and the integrated information services for the Belt and Road Initiative (BRI).

Source: China deepens reform of business permits to boost market entities

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