State Council’s plans to reduce required time to start a business

The State Council recently released its plans to simplify the administrative procedures of setting up an enterprise and reduced the required time from 20 workdays to within 8.5.

The traditional procedures of setting up a company, during which applicants need to submit materials to relevant departments in turn, will be transformed into the one-time submission and all the procedures will be conducted at the same time relying on the local information sharing system.

By the end of 2018, all the municipalities directly under the Central Government, sub-provincial cities and capital cities should cut the time required to start a business from 20 workdays to within 8.5. In the first half of 2019, the target should be reached nationwide.

Chinese source: https://www.gov.cn/