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New guideline to reform business license registration

Updated: Jun 29,2015 5:12 PM

The State Council general office released a guideline on June 29 on the reform of business license registration. The document aims to promote the “3 in 1” registration system, which means that entrepreneurs only require one certificate — issued by an industry and commerce administration department — in order to start a business.

The certificate integrates the old business license, the certificate of organization code and the tax registration certificate by using a new “social credit code”.

The reform thus aims to simplify procedures and improve the efficiency of the business registration process.

The old registration system required entrepreneurs to obtain three licenses from three different departments — industry and commerce administration department, quality and technology supervision department, and taxation department.

Accelerating the reform is aimed at facilitating the registration of enterprises, and promoting mass entrepreneurship and innovation.

Departments responsible for the promotion of the reform should coordinate with the development of electronic management, information platform construction, and the development of a social credit code system.

The document says that current pilot areas should continue the reform, and the central government also supports the addition of the Shanghai, Guangdong, Tianjin and Fujian free trade zones as new pilot areas — with the aim of promoting the “3 in 1” business license registration system nationwide by the end of 2015.