Government streamlines procedures for business approval

The central government made further strides on Tuesday in streamlining administrative procedures to encourage the establishment of new companies and investment.

It is necessary to take "strong measures" to clear obstacles against streamlining administrative procedures and to make the market more free, the central government said in a circular issued after an executive meeting of the State Council.

The conference, presided over by Premier Li Keqiang, decided to cancel 68 administrative approvals and decentralize another 19 to local governments. This, according to the circular, will benefit companies and the market.