China Mulls One-stop Business Registration

October 30, 2014--Commercial affairs reform in China is advancing one step forward. A one-stop registration system allowing companies and individually-owned businesses to make application for business licence, tax registration certificate and organisation code certificate in one go will soon be put in place.

State Administration for Industry and Commerce (SAIC)'s director Zhang Mao said recently that the system of "application for three certificates by completing one registration application form" is being explored to enable enterprises to obtain the corporate identity more easily and apply for qualification certificates more smoothly, giving convenience to the largest extent and creating a relaxed and equal environment for market access.

Since October, a number of provinces have begun to explore the one stop registration system while some went further to make plans for pilot of the system.

From March to September this year, according to SAIC statistics, newly registered market entities across the country numbered 7,663,500, an increase of 14.4% year on year, bringing additional registered capital of Rmb12.59 trillion, up 76.39%. After the registered capital registration system was reformed in March 2014, the average daily number of newly registered enterprises increased from 6,900 last year to 10,500.

Currently, new businesses seeking registration are required to apply for business licence, organization code certificate and tax registration certificate in proper sequence. The so-called one-stop registration is to put under one umbrella the registration of the three documents, having the effect of "making one application to one place, issuing certificates centrally after parallel examination and approval".