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China Streamlines Business Registration Procedures

The required procedures for registering a new business in China have been further streamlined following a directive issued by the State Council on 2 May this year.

Three measures, in particular, are seen as likely to make life simpler for would-be mainland entrepreneurs:

  • The whole business registration process can now be conducted online, with government pre-approval of company names no longer required (except in special circumstances)
  • In the case of the company seal, the required record-filing will be integrated into the overall certification process. Business owners are also free to source their seals from a provider of their own choice
  • Any enterprise that has secured a business licence with a unified social credit code will not be required to complete a separate tax registration or to apply for a social insurance registration certificate. The required processing time for invoice applications and social insurance registrations is also to be reduced.

For further details (in Chinese), please visit the following link:

State Council Executive Meeting Decides to Cut Time for Starting a Business

Content provided by Picture: HKTDC Research
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