Beijing takes lead in building pro-business environment

0 Comment(s)Print E-mail, June 17, 2022
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In the past five years, Beijing introduced 1,034 measures to build a business-friendly environment. Some of the successful practices have been scaled up to other parts of China. 

The measures include streamlining administrative and government approval procedures to reduce government-imposed transaction costs for businesses.

Through those reform measures, business registration has been made easier by integrating several procedures into a one-stop application process; services related to business registration, alteration, and cancellation can be accessed online; the efficiency of regulatory approval processes has been raised by 60%; and companies can complete their license applications in as quickly as 10 minutes.

In the past five years, 42 procedures were streamlined in starting businesses, approving construction projects, getting electricity, registering immovable properties, trading across borders, etc.

Over the past five years, the measures have helped save businesses about 6 billion yuan (US$896 million) in operating costs.

In 2019, 28 measures for simplifying procedures in registering businesses and immovable properties were gradually scaled up to take effect across the country, according to a circular issued by the General Office of the State Council.

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