Government bid to cut red tape for businesses
Print Edition
CHINA is making efforts to ease market maneuverability by reducing the amount of administrative approvals required for businesses.
The State Council announced yesterday that it had plans to cancel or decentralize more than 200 administrative approvals this year to unleash market dynamics.
The move is expected to endow businesses with easier resource allocation and encourage them to focus more efforts on supervision and macro-management than government approvals, said Yang Jing, Chinese State Councilor and secretary-general of the State Council.
The government is determined to tackle the toughest barriers during reforms in order to release more power to the market and society, Yang said.
The report was delivered during the bimonthly-session of the Standing Committee of the National People’s Congress, China’s top legislature. The State council will issue guidelines this year to ensure administrative approvals can go through simpler procedures, in shorter time and with more transparency, Yang said.
The State Council began a new round of restructuring government functions in March 2013. In just under a year and a half, it has canceled or delegated 632 administrative approval processes, Yang said.
These include approval of investment plans by businesses, the daily operation of enterprises, and scrutinizing the qualifications of enterprises, organizations or individuals.
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