Business Registration Reforms in China
In the past, the business registration system in China was complicated and market access was highly restricted and regulated. The business registration process focused too much on administrative approvals for market entry and not enough on oversight of firm activities. Firms are not allowed to start operations before being registered and receiving a business license and the business license is the only document indicating a firm’s legal identity. Before the 2014 business reform initiative, firms were also legally required to obtain various registration certificates in addition to a business license. People’s Republic of China (PRC or China) has been making a great effort to simplify its business registration process, enhance its efficiency, and reduce its cost. China has reduced both the amount of time and the number of procedures required to start a business by more than two thirds within the past decade.In 2014, China launched a country-wide multi-year National Business System Reform Initiative to ease market access, making it easier to start a business by streamlining administrative procedures, while strengthening post-registration supervision by setting up the corporate social credit system. China has made remarkable progress to reform its business registration system over the past decade, cutting the number of procedures to register a business by more than two-thirds, and shortening time to register from 34 days in 2014 to 9 days in 2020.
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| Format: | Report biblioteca |
| Language: | English |
| Published: |
World Bank, Washington, DC
2022
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| Subjects: | BUSINESS REGISTRATION, MARKET ACCESS, NATIONAL BUSINESS SYSTEM REFORM INITIATIVE , CORPORATE SOCIAL CREDIT SYSTEM, BUSINESS START-UP, PRIVATE SECTOR GROWTH, STREAMLINED ADMINISTRATIVE PROCEDURE, BUSINESS REGULATION, GOVERNANCE, COMPLIANCE MONITORING, DIGITAL BUSINESS REGISTRATION, THE NATIONAL ENTERPRISE CREDIT INFORMATION PUBLICITY PLATFORM (NECIPP), |
| Online Access: | http://documents.worldbank.org/curated/en/099615006032282559/P1760870e785010a90be7b095c05b65adfb https://hdl.handle.net/10986/37504 |
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dig-okr-10986375042024-07-17T11:38:49Z Business Registration Reforms in China A Case Study Wei, Wenting Sanchez Ortega, Luis Aldo BUSINESS REGISTRATION MARKET ACCESS NATIONAL BUSINESS SYSTEM REFORM INITIATIVE CORPORATE SOCIAL CREDIT SYSTEM BUSINESS START-UP PRIVATE SECTOR GROWTH STREAMLINED ADMINISTRATIVE PROCEDURE BUSINESS REGULATION GOVERNANCE COMPLIANCE MONITORING DIGITAL BUSINESS REGISTRATION THE NATIONAL ENTERPRISE CREDIT INFORMATION PUBLICITY PLATFORM (NECIPP) In the past, the business registration system in China was complicated and market access was highly restricted and regulated. The business registration process focused too much on administrative approvals for market entry and not enough on oversight of firm activities. Firms are not allowed to start operations before being registered and receiving a business license and the business license is the only document indicating a firm’s legal identity. Before the 2014 business reform initiative, firms were also legally required to obtain various registration certificates in addition to a business license. People’s Republic of China (PRC or China) has been making a great effort to simplify its business registration process, enhance its efficiency, and reduce its cost. China has reduced both the amount of time and the number of procedures required to start a business by more than two thirds within the past decade.In 2014, China launched a country-wide multi-year National Business System Reform Initiative to ease market access, making it easier to start a business by streamlining administrative procedures, while strengthening post-registration supervision by setting up the corporate social credit system. China has made remarkable progress to reform its business registration system over the past decade, cutting the number of procedures to register a business by more than two-thirds, and shortening time to register from 34 days in 2014 to 9 days in 2020. 2022-06-07T17:27:22Z 2022-06-07T17:27:22Z 2022 Report Rapport Informe http://documents.worldbank.org/curated/en/099615006032282559/P1760870e785010a90be7b095c05b65adfb https://hdl.handle.net/10986/37504 English Equitable Growth, Finance & Institutions Insight; CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank application/pdf application/pdf text/plain World Bank, Washington, DC |
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| region |
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| libraryname |
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| language |
English |
| topic |
BUSINESS REGISTRATION MARKET ACCESS NATIONAL BUSINESS SYSTEM REFORM INITIATIVE CORPORATE SOCIAL CREDIT SYSTEM BUSINESS START-UP PRIVATE SECTOR GROWTH STREAMLINED ADMINISTRATIVE PROCEDURE BUSINESS REGULATION GOVERNANCE COMPLIANCE MONITORING DIGITAL BUSINESS REGISTRATION THE NATIONAL ENTERPRISE CREDIT INFORMATION PUBLICITY PLATFORM (NECIPP) BUSINESS REGISTRATION MARKET ACCESS NATIONAL BUSINESS SYSTEM REFORM INITIATIVE CORPORATE SOCIAL CREDIT SYSTEM BUSINESS START-UP PRIVATE SECTOR GROWTH STREAMLINED ADMINISTRATIVE PROCEDURE BUSINESS REGULATION GOVERNANCE COMPLIANCE MONITORING DIGITAL BUSINESS REGISTRATION THE NATIONAL ENTERPRISE CREDIT INFORMATION PUBLICITY PLATFORM (NECIPP) |
| spellingShingle |
BUSINESS REGISTRATION MARKET ACCESS NATIONAL BUSINESS SYSTEM REFORM INITIATIVE CORPORATE SOCIAL CREDIT SYSTEM BUSINESS START-UP PRIVATE SECTOR GROWTH STREAMLINED ADMINISTRATIVE PROCEDURE BUSINESS REGULATION GOVERNANCE COMPLIANCE MONITORING DIGITAL BUSINESS REGISTRATION THE NATIONAL ENTERPRISE CREDIT INFORMATION PUBLICITY PLATFORM (NECIPP) BUSINESS REGISTRATION MARKET ACCESS NATIONAL BUSINESS SYSTEM REFORM INITIATIVE CORPORATE SOCIAL CREDIT SYSTEM BUSINESS START-UP PRIVATE SECTOR GROWTH STREAMLINED ADMINISTRATIVE PROCEDURE BUSINESS REGULATION GOVERNANCE COMPLIANCE MONITORING DIGITAL BUSINESS REGISTRATION THE NATIONAL ENTERPRISE CREDIT INFORMATION PUBLICITY PLATFORM (NECIPP) Wei, Wenting Sanchez Ortega, Luis Aldo Business Registration Reforms in China |
| description |
In the past, the business
registration system in China was complicated and market
access was highly restricted and regulated. The business
registration process focused too much on administrative
approvals for market entry and not enough on oversight of
firm activities. Firms are not allowed to start operations
before being registered and receiving a business license and
the business license is the only document indicating a
firm’s legal identity. Before the 2014 business reform
initiative, firms were also legally required to obtain
various registration certificates in addition to a business
license. People’s Republic of China (PRC or China) has been
making a great effort to simplify its business registration
process, enhance its efficiency, and reduce its cost. China
has reduced both the amount of time and the number of
procedures required to start a business by more than two
thirds within the past decade.In 2014, China launched a
country-wide multi-year National Business System Reform
Initiative to ease market access, making it easier to start
a business by streamlining administrative procedures, while
strengthening post-registration supervision by setting up
the corporate social credit system. China has made
remarkable progress to reform its business registration
system over the past decade, cutting the number of
procedures to register a business by more than two-thirds,
and shortening time to register from 34 days in 2014 to 9
days in 2020. |
| format |
Report |
| topic_facet |
BUSINESS REGISTRATION MARKET ACCESS NATIONAL BUSINESS SYSTEM REFORM INITIATIVE CORPORATE SOCIAL CREDIT SYSTEM BUSINESS START-UP PRIVATE SECTOR GROWTH STREAMLINED ADMINISTRATIVE PROCEDURE BUSINESS REGULATION GOVERNANCE COMPLIANCE MONITORING DIGITAL BUSINESS REGISTRATION THE NATIONAL ENTERPRISE CREDIT INFORMATION PUBLICITY PLATFORM (NECIPP) |
| author |
Wei, Wenting Sanchez Ortega, Luis Aldo |
| author_facet |
Wei, Wenting Sanchez Ortega, Luis Aldo |
| author_sort |
Wei, Wenting |
| title |
Business Registration Reforms in China |
| title_short |
Business Registration Reforms in China |
| title_full |
Business Registration Reforms in China |
| title_fullStr |
Business Registration Reforms in China |
| title_full_unstemmed |
Business Registration Reforms in China |
| title_sort |
business registration reforms in china |
| publisher |
World Bank, Washington, DC |
| publishDate |
2022 |
| url |
http://documents.worldbank.org/curated/en/099615006032282559/P1760870e785010a90be7b095c05b65adfb https://hdl.handle.net/10986/37504 |
| work_keys_str_mv |
AT weiwenting businessregistrationreformsinchina AT sanchezortegaluisaldo businessregistrationreformsinchina AT weiwenting acasestudy AT sanchezortegaluisaldo acasestudy |
| _version_ |
1806031939471147008 |