Qinghai to shorten company registration time

Qinghai province has released 20 measures on shortening the time for starting a business in the province in order to bring more convenience for companies during the registration process.

These measures, which came into effect May 1, cover six aspects and shorten the registration time from 8.5 workdays set by the country to no more than five workdays.

Qinghai will continue to promote enterprise autonomy and lower the threshold for business access in the province. Three major registration items – the company's name, business scope and domicile–can be declared independently. So far, 10 registration items can be declared independently, including the type of company, operating period and registration authority.

The province will continue to simplify the processes of starting a business and reduce the institutional transaction costs. Companies can apply at service windows directly for registration and the audit staff will examine the material on the same day, allowing companies to finish the whole process in two days.

Qinghai will give full play to the internet when offering government services. Two service sectors for the admittance and exit of companies will be established by the end of August on the government service platform of the provincial administration for market regulation, making it possible for companies to finish processes such as seal engraving, opening bank accounts, cancelling registration and cancelling social security.

It will push forward information sharing, issuing electronic business licenses to improve convenience for companies when dealing with affairs in public services and business areas. Qinghai will also apply natural personal authentication which will be recognized nationally.

The methods at service windows will be improved and reset so that people can deal with different affairs at the same window. Cooperation with postal corporations will be strengthened to deliver business licenses of the same city on the same day and deliver the business licenses for different regions within three days, providing more convenience for people and companies.

A monitoring mechanism on the time taken for company registration will be set up to optimize the business environment of the whole province. The result of this mechanism will be reported in a timely manner to push forward the implementation of the measures released to shorten registration time.

“This English version is only for reference. To learn more, please refer to the authoritative Chinese version on https://www.gov.cn/xinwen/2019-05/13/content_5390997.htm.”