Business Registration Reforms in China : A Case Study

In the past, the business registration system in China was complicated and market access was highly restricted and regulated. The business registration process focused too much on administrative approvals for market entry and not enough on oversigh...

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Main Authors:	Wei, Wenting, Sanchez Ortega, Luis Aldo
Format:	Report
Language:	English
Published:	World Bank, Washington, DC 2022
Subjects:	BUSINESS REGISTRATION MARKET ACCESS NATIONAL BUSINESS SYSTEM REFORM INITIATIVE CORPORATE SOCIAL CREDIT SYSTEM BUSINESS START-UP PRIVATE SECTOR GROWTH STREAMLINED ADMINISTRATIVE PROCEDURE BUSINESS REGULATION GOVERNANCE COMPLIANCE MONITORING DIGITAL BUSINESS REGISTRATION THE NATIONAL ENTERPRISE CREDIT INFORMATION PUBLICITY PLATFORM (NECIPP)
Online Access:	http://documents.worldbank.org/curated/en/099615006032282559/P1760870e785010a90be7b095c05b65adfb http://hdl.handle.net/10986/37504

id	okr-10986-37504
recordtype	oai_dc
spelling	okr-10986-375042022-08-25T05:10:34Z Business Registration Reforms in China : A Case Study Wei, Wenting Sanchez Ortega, Luis Aldo BUSINESS REGISTRATION MARKET ACCESS NATIONAL BUSINESS SYSTEM REFORM INITIATIVE CORPORATE SOCIAL CREDIT SYSTEM BUSINESS START-UP PRIVATE SECTOR GROWTH STREAMLINED ADMINISTRATIVE PROCEDURE BUSINESS REGULATION GOVERNANCE COMPLIANCE MONITORING DIGITAL BUSINESS REGISTRATION THE NATIONAL ENTERPRISE CREDIT INFORMATION PUBLICITY PLATFORM (NECIPP) In the past, the business registration system in China was complicated and market access was highly restricted and regulated. The business registration process focused too much on administrative approvals for market entry and not enough on oversight of firm activities. Firms are not allowed to start operations before being registered and receiving a business license and the business license is the only document indicating a firm’s legal identity. Before the 2014 business reform initiative, firms were also legally required to obtain various registration certificates in addition to a business license. People’s Republic of China (PRC or China) has been making a great effort to simplify its business registration process, enhance its efficiency, and reduce its cost. China has reduced both the amount of time and the number of procedures required to start a business by more than two thirds within the past decade.In 2014, China launched a country-wide multi-year National Business System Reform Initiative to ease market access, making it easier to start a business by streamlining administrative procedures, while strengthening post-registration supervision by setting up the corporate social credit system. China has made remarkable progress to reform its business registration system over the past decade, cutting the number of procedures to register a business by more than two-thirds, and shortening time to register from 34 days in 2014 to 9 days in 2020. 2022-06-07T17:27:22Z 2022-06-07T17:27:22Z 2022 Report http://documents.worldbank.org/curated/en/099615006032282559/P1760870e785010a90be7b095c05b65adfb http://hdl.handle.net/10986/37504 English Equitable Growth, Finance & Institutions Insight; CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Report Publications & Research East Asia and Pacific China
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English
topic	BUSINESS REGISTRATION MARKET ACCESS NATIONAL BUSINESS SYSTEM REFORM INITIATIVE CORPORATE SOCIAL CREDIT SYSTEM BUSINESS START-UP PRIVATE SECTOR GROWTH STREAMLINED ADMINISTRATIVE PROCEDURE BUSINESS REGULATION GOVERNANCE COMPLIANCE MONITORING DIGITAL BUSINESS REGISTRATION THE NATIONAL ENTERPRISE CREDIT INFORMATION PUBLICITY PLATFORM (NECIPP)
spellingShingle	BUSINESS REGISTRATION MARKET ACCESS NATIONAL BUSINESS SYSTEM REFORM INITIATIVE CORPORATE SOCIAL CREDIT SYSTEM BUSINESS START-UP PRIVATE SECTOR GROWTH STREAMLINED ADMINISTRATIVE PROCEDURE BUSINESS REGULATION GOVERNANCE COMPLIANCE MONITORING DIGITAL BUSINESS REGISTRATION THE NATIONAL ENTERPRISE CREDIT INFORMATION PUBLICITY PLATFORM (NECIPP) Wei, Wenting Sanchez Ortega, Luis Aldo Business Registration Reforms in China : A Case Study
geographic_facet	East Asia and Pacific China
relation	Equitable Growth, Finance & Institutions Insight;
description	In the past, the business registration system in China was complicated and market access was highly restricted and regulated. The business registration process focused too much on administrative approvals for market entry and not enough on oversight of firm activities. Firms are not allowed to start operations before being registered and receiving a business license and the business license is the only document indicating a firm’s legal identity. Before the 2014 business reform initiative, firms were also legally required to obtain various registration certificates in addition to a business license. People’s Republic of China (PRC or China) has been making a great effort to simplify its business registration process, enhance its efficiency, and reduce its cost. China has reduced both the amount of time and the number of procedures required to start a business by more than two thirds within the past decade.In 2014, China launched a country-wide multi-year National Business System Reform Initiative to ease market access, making it easier to start a business by streamlining administrative procedures, while strengthening post-registration supervision by setting up the corporate social credit system. China has made remarkable progress to reform its business registration system over the past decade, cutting the number of procedures to register a business by more than two-thirds, and shortening time to register from 34 days in 2014 to 9 days in 2020.
format	Report
author	Wei, Wenting Sanchez Ortega, Luis Aldo
author_facet	Wei, Wenting Sanchez Ortega, Luis Aldo
author_sort	Wei, Wenting
title	Business Registration Reforms in China : A Case Study
title_short	Business Registration Reforms in China : A Case Study
title_full	Business Registration Reforms in China : A Case Study
title_fullStr	Business Registration Reforms in China : A Case Study
title_full_unstemmed	Business Registration Reforms in China : A Case Study
title_sort	business registration reforms in china : a case study
publisher	World Bank, Washington, DC
publishDate	2022
url	http://documents.worldbank.org/curated/en/099615006032282559/P1760870e785010a90be7b095c05b65adfb http://hdl.handle.net/10986/37504
_version_	1764487357660135424

Business Registration Reforms in China : A Case Study

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