China Deepens Business Licensing Reform to Boost Market Entities

BEIJING, June 3 (Xinhua) – A full-coverage list management system will be adopted for business-related business licenses nationwide from July 1, a state Council circular said. Thursday.

At the same time, further reforms of the review and approval system will be launched in the pilot free trade zones (FTAs), according to the circular.

A digital licensing system for businesses will be available nationwide by the end of 2022, with paper media no longer needed if the target information can be obtained through the digital licensing 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 with the aim of making administrative operations more convenient and predictable for entities. of the market.

A total of 68 business-related trade licenses will be canceled nationwide, along with 14 more in pilot free zones, to remove operational barriers in areas such as foreign investment and trade, engineering construction , transport and logistics, and agency services.

A total of 15 business-related commercial license items will be turned into archival items, along with 15 more in pilot free zones, to grant market access in areas such as trade and traffic, education and security. training, medical services, food and finance.

All commercial license items related to the business will be included in the list for management. The list will be dynamically adjusted and updated, and announced to the public for social monitoring purposes.

In the first five months, around 135,800 new businesses were created in the pilot free zones, up 60.52% year-on-year, and 30 percentage points higher than that of new businesses created across the country. during the same period, according to the State Administration for Market Regulation.


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