Business / Economy

Xinjiang simplifies registration to boost startups

(Xinhua) Updated: 2016-09-03 14:29

URUMQI - The Xinjiang Uygur autonomous region has simplified registration procedures to boost entrepreneurship and encourage people to start their own businesses, local authorities said.

The move echoes a national call to streamline registration processes, by combining business license, organization code, tax registration, social insurance and statistical registration, into one single paper.

"This move will lower the threshold for new businesses and improve the wider commercial environment," said Li Gang, chief of the region's industry and commerce administration.

On Friday, 13 such licenses were issued.

Wang Wenbing, a local auto-maker, said it took him ten days to acquire the registration paper, a process that would have taken him two months before.

China has slashing red tape to help the country's entrepreneurs since last October.

In the first half of 2016, an average 40,000 market entities and 14,000 enterprises were registered daily in China, thanks to the simplified procedures, according to the State Administration for Industry and Commerce.

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