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Policy

Chinese premier stresses streamlining approval procedures in FTZs

December 03, 2019


Abstract : Chinese Premier Li Keqiang has underlined efforts to push a full-coverage pilot reform that separates business operation permits from business licenses in free trade zones (FTZs) with an aim to streamline the approval process for companies and expand market access.

BEIJING, Dec. 2 (Xinhua) -- Chinese Premier Li Keqiang has underlined efforts to push a full-coverage pilot reform that separates business operation permits from business licenses in free trade zones (FTZs) with an aim to streamline the approval process for companies and expand market access.

Before the reform, enterprises had to get an operation permit before their business licenses, which could be a time-consuming process.

The move is an important measure to deepen the reform of streamlining administration, delegating powers, and improving regulations and services, as well as to optimize the business environment and stimulate market vitality, Li said in an instruction to a teleconference on the reform, which was held in Beijing on Monday.

He urged continuous efforts to advance the building of a market-oriented, internationalized business environment based on the rule of law to spawn new businesses and boost their growth.

Vice Premier Han Zheng said at the meeting that the reform is the groundwork of improving the modernization of China's governance system and capacity.

More efforts should be made to establish a list management system and add all items regarding business operation permits to the list to outline the reform goals and improve the transparency, according to Han.

Han also highlighted the practice of notification and commitment, under which a market entity shall be approved for business activities when it commits to complying with all the permitting requirements.

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Keyword: FTZ free trade

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