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State councilor urges more efforts to simplify business registration

Updated: Sep 21,2016 4:38 AM     Xinhua

HAIKOU — State Councilor Wang Yong has asked local governments to do more to simplify business registration procedures.

During a visit to South China’s Hainan province, Wang said authorities should continue to reduce approval procedures and omit unnecessary registrations.

Better information disclosure, stricter measures against companies with poor credit and stronger law enforcement were all required, Wang said.

Wang visited governments, innovation centers, street markets and small firms since Sept 18.

The government initiated business registration reforms in March 2014 by lowering barriers for market entry and cutting red tape.

New business registrations jumped 28.9 percent year on year in the first eight months of 2016.