Beijing simplifies business registration and cancellation

0 Comment(s)Print E-mail, March 18, 2019
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The procedures for registering a new business and canceling a business license in Beijing have been simplified with the city's new policies on enhancing its business environment. 

According to the Beijing Municipal Administration for Market Regulation, new companies can register online, receive the license within one day, and complete all procedures in three days. It also reduced the required time period for giving notice prior to canceling a business registration from 45 to 20 days. 

In addition, the online platform for handling new business registrations will also be available for cancellation procedures in June. 

Mu Fengliang, owner of a catering company, said, "In the past, it took a new company several months to get a business license, so I thought the whole registration process would exhaust me. Surprisingly, my partner just consulted the district's industrial and commercial administration through a phone call and submitted the application at the ECT (Electronic Card Transactions) Service Platform. And then we already had all procedures including the electronic license completed within three days."

A new policy to speed up business registration was jointly issued by six municipal departments, including the Beijing Municipal Administration for Market Regulation, the Beijing Municipal Tax Service, the Beijing Municipal Administration of Human Resources and Social Security, the Beijing Operations Office of the People's Bank of China, and the Beijing Municipal Housing Provident Fund Administration Center. 

It helped to launch a new version of the ECT Service Platform, offering one-stop service for starting new businesses from applying for business licenses to engraving official seals and printing invoices.

"Governmental departments will face more workloads, but it is all worthwhile if we can speed up the registration process for news enterprises," said Deng Huimin, an official from municipal market regulation administration. 

"The bank loan quota is often limited. Sometimes just one day's delay in getting the business license will let a new company miss the loan. It's a life or death matter for a new small business," Deng explained.  

Other new functions have also been added to the ECT Service Platform. Companies with recruitment needs can submit insurance and housing fund files online, and the system will automatically transmit data to the corresponding departments. Appointments for opening bank accounts and electronic business licenses are also provided on the platform.

The cancellation of business registration has been a major problem for many enterprises. Now the procedures have been simplified. A set of 22 measures on the reform of the cancellation process was jointly released by the Beijing Municipal Administration for Market Regulation and five other municipal departments. The reform has improved the pilot program for easy cancellation by opening up the service to more applicable organizations.

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