Regulator vows efforts to facilitate firms' business

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

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

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 yesterday.

The administration will gradually expand 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, signalling a positive result of business facilitation, he 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, Yang added.

Meanwhile, online services for enterprises will 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.

The State Council, China’s cabinet, issued a guideline on Tuesday to further improve the business environment and better serve market entities.

It stresses six categories of policies and measures, including more streamlined and efficient approval procedures for construction projects and their financing, easier approval processes and conditions for firms generally, and an optimized business environment for foreign trade and investment.

It also highlights support for employment and entrepreneurship, improved quality and efficiency of services provided to businesses, and a long-term mechanism to improve the business environment.

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