China to Simplify Business Registration for Foreign Investors

China to Simplify Business Registration for Foreign Investors

May 22, 2018

China will simplify business registration procedures for foreign-invested enterprises in an offer to encourage foreign investment, Premier Li Keqiang declared after a State Council meeting on May 16.

The measures, which will go live on June 30, 2018, incorporate the “One Window, One Form” policy that is ready to streamline business recording and registration and cut bureaucratic red tape. With the change, foreign investors will have a centralized point to liaise with the administration for business registration as opposed to dealing with different departments and offices.

Further, the government declared that it will set up an online platform foreign business can use for business registration. Through the platform, foreign investors will have the capacity to finish a significant part of the registration process online and free of charge.

” Government services are to serve public good, and thus should be generally available,” Li said. “Current technologies have made it possible to have numerous things done online.”

The online entry will give foreign investors access to interconnected government services at the national, provincial, and city levels. By the end of 2019, no less than 90 percent of service items offered by provincial-level authorities and 70 percent by city- and county-level authorities will be made available on the online, per the declaration.

As indicated by the State Council, foreign investors will only need to make a single in-person appearance for business registration steps that can’t be finished online. These means will be obviously recorded online.

In addition to streamlining the business registration process, the establishment of the online portal will make it simpler for government divisions to share and arrange in real-time.

The moves are a part of a more extensive crusade by the Chinese government to enhance ease of doing business at both the national and local level and streamline government administration. They are additionally part of the Internet Plus for government services campaign, which looks to digitize different government functions.

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