Streamlined registration boosts business growth in Shanxi
The Shanxi Market Regulation Administration has been simplifying the business registration process in Shanxi province in various ways since 2020.
The province has reduced the time required to set up a company. It has fully implemented the independent declaration of enterprise names by promoting electronic business registration, reducing application materials and facilitating business cancellation.
Over the past year, the Shanxi Market Regulation Administration has provided 2,188 new business entities with convenient business registration services and slashed the number of business-license application materials to eight from 16 in 2018.
It has also shortened the approval time by ensuring that the same person is responsible for handling and reviewing application materials and established an extensive network of service sites.
In terms of optimizing administrative approval, the time required to certify business qualifications and approve food businesses has been reduced from 20 working days to 12 and 10 working days, respectively.
The start-up time of provincial- and municipal-level enterprises in Shanxi has been reduced to one day, and business cancellation procedures can now be entirely handled online.
As a result, the number of market entities in Shanxi increased 10.06 percent year-on-year to 2.84 million as of the end of December 2020.