New businesses are now able to complete registration applications at a one-stop service platform and be granted approval within a day, according to a press conference held by the Shenzhen Municipal Government Information Office at the Civic Center in Futian District on Saturday.
It is part of 200 reform measures included in an implementation plan that Shenzhen — one of the pilot cities for national innovation in improving the business climate — will take this year to build a world-class, market-oriented business environment governed by a sound legal framework and become one of the most popular hotspots for global innovation, startups and investments, Wang Jun, deputy director of the city’s development and reform commission, said at the conference.
The plan assigns tasks pertaining to market access, rule of law, openness and government administration, and highlights reforms in the new supply of production factors, getting geared to international rules and fostering new quality market entities, he said.
As per the plan, a competitive and orderly market environment will be established for market entities by easing market access, facilitating business registrations and operations, and optimizing exit mechanisms.
The city will also set up a credit repair mechanism to help revitalize qualified bankrupt and restructured enterprises.
To attract global investors and aid local enterprises to go global, the city is projected to accelerate the construction of smart customs and widen the application of innovative technologies in customs declaration, Tu Lin, vice chief of Shenzhen Customs, said at the conference.
According to her, the city issued 3,074 copies of paperless certificates of origin under the RCEP (Regional Comprehensive Economic Partnership) agreement in the first quarter of this year, involving goods worth a total value of 680 million yuan (US$102 million).
In 2021, the city’s total volume of imports and exports exceeded 3.5 trillion yuan, with the exports ranking first in the country for the 29th consecutive year.
The city plans to make laws on AI, digital economy, cell and gene industry, intelligent connected vehicle industry, and investor protection in Qianhai, according to Huang Xiangzhao of the justice bureau.
It will also remove problematic administrative penalties to ensure law-based, institutionalized and standardized law enforcement.
Over the past two years, the number and vitality of business entities in Shenzhen have expanded strongly despite COVID-19, according to the National Development and Reform Commission. By the end of September last year, the city’s number of market entities exceeded 3.7 million, up 7.2% year on year.