China to further improve business environment in pilot free trade zones

2019-11-18 18:00:58 39

China has decided to further improve its business environment by promoting the separation of permits from business licenses in pilot free trade zones (FTZ).

Starting Dec. 1, the country will carry out trial programs separating operation permits from business licenses in all pilot FTZs in a move to expand market access, according to a statement released by the State Council.

The reform was first piloted in the Pudong New Area in Shanghai in 2015. Before the reform, enterprises had to get an operation permit before their business license, which could be a time-consuming process.

China will further cut the red tape concerning 523 items related to business operation permits set by the central government, including scrapping the review requirement of 13 items and replacing the approval requirement of eight items with registration.

The efficiency of approval for 442 items will be streamlined.

A list will be established to outline laws, regulations and items related with business operation, which will be released to the public and adjusted in due course.

The government will strengthen its supervision of and improve its service for enterprises, the statement said.