1 Nov 2017
Shanghai Reforms on Business Administrative Measures Extended to FTZs
A number of reforms trialed in the Shanghai Pudong New Area – including providing greater clarity as to the distinct functions and entitlements of business licences, operating permits and integrated business licences – are to be extended to China’s other 10 Pilot Free Trade Zones (Tianjin, Liaoning, Zhejiang, Fujian, Henan, Hubei, Guangdong, Chongqing, Sichuan and Shaanxi).The move was detailed in a 28 September circular issued by the State Council – Opinions on Expanding the Pilot Reform for Separating Licences and Operating Permits – and came into immediate effect. The legislation will remain in force until 21 December 2018.
Among the reforms to be extended are four key measures:
- Clarifying and regulating a number of approval procedures
- Reinforcing on-going and ex-post supervision
- Prioritising extended information sharing
- Promoting the distinction between business licences, operating permits and integrated business licences
Overall, the reforms are said to have substantially reduced the operating costs of many of the businesses based in the Shanghai Pudong New Area. This largely resulted from the reform/repeal of 116 administrative approval procedures.
For further details (in Chinese), please refer to the following link: