China further optimizes market regulation to aid work resumption

China has rolled out a raft of measures to further improve market regulation and support companies to resume work amid the fight against the novel coronavirus outbreak, said an official with the top market regulator on Feb 25.

China has strengthened online administrative services for companies such as enterprise registration, business license approval, and qualification accreditation, said Tang Jun, deputy head of the State Administration for Market Regulation, at a press conference.

The approval procedures have been streamlined, aiming to shorten the approval period and reduce costs for enterprises to the largest extent, Tang said.

The administration has set up a green channel for enterprises producing epidemic prevention materials or related drugs in terms of business registration, patent application, and trademark filing.

Meanwhile, it has further lowered fees of related technical services provided by the verification and inspection departments under the administration, according to Tang.

For enterprises in Hubei province, the epicenter of the epidemic in China, fees for related verification, calibration and inspection services have been exempted, he said.