Reforms prompt a huge increase in registrations by new companies

There has been a surge in company registrations, after the government slashed red tape, an official of the State Administration for Industry and Commerce revealed.

Since the registration reforms were introduced on March 1, more than 1.76 million corporations registered, 68 percent more than the number of corporations set up during the same period last year, said Zhou Shiping, director of the department of enterprise registration under the State Administration for Industry and Commerce on Friday.

The key reforms introduced in March were Regulations on the Registration of Company Registered Capital, the revised Company Law and the State Council's circular to reform the general system of registration.