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China to further facilitate business operations of enterprises

Economy
China's top market regulator vows more efforts in optimizing the business environment and deepening business system reforms to spur the vitality of market entities.

XinhuaUpdated: July 23, 2020

China's top market regulator vows more efforts in optimizing the business environment and deepening business system reforms to spur the vitality of market entities.

Yang Hongcan, an official with the State Administration for Market Regulation, attend a press conference held by the State Council Information Office on July 22, 2020. [Photo by Jiao Fei/China SCIO]


To facilitate business operations of enterprises, the country has been advancing the reform of separating business licenses from administrative permits to streamline approval procedures in 18 pilot free trade zones, Yang Hongcan, an official with the State Administration for Market Regulation, told a press conference Wednesday.

The administration will gradually expand the coverage of the measure throughout the whole country.

In the first half of this year, the daily average number of newly-launched businesses in China remained at about 20,000 despite the COVID-19 epidemic, registering a positive result of the business facilitation, Yang said.

Business start-up services for enterprises will be further optimized. The time needed to start a company will be reduced to four working days or less by the end of this year, according to Yang.

Meanwhile, online services for enterprises shall be enhanced to utilize new technologies including big data and artificial intelligence and promote digital certificates.

Location restrictions on business registration applying to micro and small enterprises and self-employed people will be relaxed, Yang said, adding that a negative list management system for locations of individual businesses will be established and improved as soon as possible.

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