China streamlines business registration to encourage startups

BEIJING - People wishing to start their own business in China will only need to apply to just one office for the three essential business certificates, rather than three offices at the moment, the State Council, China's cabinet, announced on Wednesday.

In a move to cut red tape and encourage startups, business licenses, tax registration certificates and organization code certificates will all be issued by the administration of industry and commerce (AIC), according to a statement released after an executive meeting of the State Council presided over by Premier Li Keqiang.

At present, people have to go to the AIC, quality supervision departments and taxation bureaus for the three certificates.

The State Council called for government departments to keep computer records and share information and said the streamlined registration system should be realized nationwide by the end of this year.

During Wednesday's meeting, the State Council also called for improved disclosure of government information through broader use of modern IT such as big data.