At a bustling government service center in Beijing’s Xicheng District, Zhao Peng, a catering company manager, expected a long and exhausting process to open a new branch. Instead, he was met with efficiency and convenience.
A staff member promptly reviewed his stack of documents and reassured him that any missing paperwork could be submitted online. “No need to come back,” the staff member said. “Just upload it from home, and your permits will be ready in a few days.”
“With just one trip, I got the new business license and operating permit. It’s so convenient,” Zhao shared enthusiastically.
Zhao’s experience reflects China’s persistent efforts to optimize its business environment. Earlier this year, the State Council introduced guidelines to promote “one-stop service” and enhance administrative efficiency, simplifying procedures for businesses and individuals alike.
The initiative includes key tasks directly related to business operations, such as corporate information updates, establishing new businesses, utility applications, and business deregistration. The goal is to simplify approval processes, reduce taxes and fees, and accelerate digital governance.
In September, the State Administration for Market Regulation (SAMR) unveiled key measures to further improve the business environment, focusing on fairness, reducing administrative interference, and eliminating barriers to market entry.
China is also drafting the Private Economy Promotion Law to provide a more supportive environment for private enterprises. The law aims to encourage private-sector participation in major national projects and address systemic challenges faced by private businesses.
These policies are boosting economic activity. By the end of September, the number of registered private enterprises in China exceeded 55 million, accounting for over 92% of all businesses. Private investment in manufacturing grew by 11.4% in the first 10 months of 2024.
Li Chao, deputy director of the Policy Research Office of the National Development and Reform Commission, noted that additional measures are planned to support private enterprises. These include participation in national infrastructure projects and improved financing policies.
China is also making significant strides in improving the business environment for foreign enterprises, revising the negative list for foreign investment, expanding market access, and enacting the Foreign Investment Law to ensure the protection of foreign investors’ legal rights.
Despite a global decline in cross-border investment, China remains a top destination for foreign investment. In the first quarter of 2024, the number of newly established foreign enterprises increased by 20.7% year on year, reflecting China’s commitment to fostering a transparent, fair, and law-based business environment.
Reference(s):
China moves to optimize business environment, driving growth
cgtn.com
