Business registration now easier with new measures

Shanghai's market regulators released 12 measures on Tuesday that provide easier access for the registration of market entities in an effort to boost their confidence and vitality with the COVID-19 resurgence waning.

The new measures include improving e-registration services, expanding the application process for e-versions of business licenses and extending the transition period for new and old version material applications, according to the Shanghai Administration for Market Regulation.

The city's market authorities are providing online report, signing, review and license-issuing services for applicants, which cover the entire market entity registration, seal carving, insurance affairs' handling and bank account opening process, alleviating paper submissions and making services more efficient.

Moreover, the application segments for e-version business licenses and seals have been expanded, including business registration, annual report publishing, tax-affair handling, social insurance and public accumulation funds, and banking affairs.

Additionally, market regulators have improved a mechanism that helps companies unable to resume normal operations due to the virus surge.

Under the mechanism, they can suspend their business operations for up to three years without revoking their licences.