Reducing market intervention

In a move to further lower the access threshold and simplify their approval procedures, the State Council, China's Cabinet, has stated that there will be unified registration codes and certificates for all legal persons and organizations.

The unified coding will change the past practice whereby a legal person or entity usually receives different codes from different State departments at the time of registration, including from the industrial and commercial, taxation and quality supervision departments. Multiple codes for businesses have resulted in different information being held on the company by different departments, thus making its credit record difficult to track.

Multiple departments holding different information on the same enterprise has also increased administrative costs and left room for corruption.