'Identity codes' for Shanghai market entities

A trial of an "identity code" covering all 3.2 million market entities in Shanghai started on Thursday. It aims to create a more transparent business environment and ensure efficient business operation.

The "identity code" with unified standard is applied to both the paper version and e-version of business licenses of market entities, and the QR code automatically generated is permanently valid.

"It is like a 'digital portrait' of businesses," explained Kang Yan, an official with the registration department of the Shanghai Administration for Market Regulation.

By scanning the code, consumers are able to check the registration, licensing and monitoring information of businesses.

Abnormal operations and administrative penalty information can also be accessed via the code.

It provides reference for consumers and business partners, thus boosting the development and expansion of businesses abiding by regulations, Kang pointed out.

At the same time, enterprises are able to enjoy more convenient government services.

In Xuhui District, nearly 50 self-service terminals have been set up at government affairs service halls, commercial areas and industrial parks.

"In the past, it took time to verify the business license information of clients, and mistakes could occur when we manually input information," said Lu Ming, a staffer at the Shanghai branch of Bank of Ningbo.

Now, the information will be automatically inputted for bank account opening.

"It significantly improves the efficiency of opening bank accounts," Lu claimed.

Market regulators can check the registration information and inspection record of businesses by scanning the code as well, allowing for accurate different-tier supervision and management of catering businesses.