30 Aug 2019
China to Separate Business Licences and Operation Permits in all FTZs
The policy of separating business licences and operation permits is to be implemented in all the country’s Pilot Free Trade Zones as of 1 December this year. At the same time, efforts are to be made to reduce the number of business processes requiring individual approval from their current level of 523.
In order to deliver on this, the State Council is to seek a mandate from the Standing Committee of the National People’s Congress to adjust the legislation as it currently stands. The decisions were taken during the 21 August State Council Executive Meeting, with the moves intended to resolve the problem of gaining market access but being unable to do business that confounds many of the country’s would-be entrepreneurs and to foster a market-oriented, law-based, world-class commercial environment.
Source: State Council of China