Easier licenses
Print Edition
THE Shanghai Xinzhi Huacheng Real Estate Company has become the first business to receive a business license from the Jiading Sub-Bureau of Shanghai Administration of Industry and Commerce after the State Council’s recent capital registration system reform.
Before the reform, the enterprises had to get their administrative permit first and then apply for their business license.
While waiting, they meet difficulties in preparation work, such as recruiting employees and getting loans.
Under the new rules, enterprises can get a business license first, then they can do the above mentioned preparation work. The administration will no longer carry out annual checks on licensed companies. Instead, the companies just need to make public of their own annual reports.
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