Beijing advances reform to shore up market entities

0 Comment(s)Print E-mail, November 8, 2022
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With a total of 93,000 newly-added market entities benefitting from the reform of separating operating permits from business licenses since July 2021, Beijing has achieved substantive results in streamlining administrative approval procedures and easing market access.

The reforms, which aim to further facilitate enterprises' business operations and energize market entities, were officially rolled out in the city on July 1 last year. Beijing has been carrying out list-based management of all items requiring administrative approval and further redoubled reform efforts of its pilot free trade zones.

To date, various reform measures have been implemented across the city, with major progress seen in relaxing market access, reducing procedures, improving efficiency, and optimizing services.

According to statistics from the city's market watchdog, the number of new market entities registered since reforms were rolled out has reached a record high over the past five years.

Regarding streamlining administrations and delegating power, Beijing has offered online access to business registration systems, simplified procedures and materials for business inquiries, and extended the validity of certain business licenses.

Beijing has also further introduced targeted and precise measures to improve regulation. By establishing risk assessment and layered supervision systems, Beijing has managed to minimize business disruptions while exercising market regulation.

In addition, Beijing has optimized a total of 40 items of government services related to business operations through enhancing administrative efficiency, reducing government-imposed transaction costs, and expediting market access processes.

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