Notice from the People's Government of Guangzhou Municipality on issuing "Guangzhou's Implementation Plan on Deepening the Reform of Commercial System"
16 March 2019
The People's Government of Guangzhou Municipality issued the above notice to promulgate the "Guangzhou's Implementation Plan on Deepening the Reform of Commercial System" on 16 March 2019. Details of the notice include deepening commercial services in the “Guangdong-Hong Kong Connect” and “Guangdong-Macao Connect” cooperation, allowing Hong Kong and Macao investors to handle offshore commercial registration matters. Besides, the Guangzhou Government also announced shortening the timeline for business registration to 2.5 working days in 2019, and further shortened to within 2 working days in 2020.
Abstract
On 16 March 2019, the People's Government of Guangzhou Municipality issued the above notice to promulgate the "Guangzhou's Implementation Plan on Deepening the Reform of Commercial System".
The key contents of the Implementation Plan are as follows:
Promoting deeper reform of business registrations
- Guangdong Pilot Free Trade Zone Nansha Area as the pilot area for implementing the business registration confirmation system.
- Promoting the “combined reviews, completion in one go” plan, expanding the scope of “tolerated missing items for registration”;
- Promoting electronic business registration, allowing companies to applying online for business licenses;
- Exploring the possibility of “conducting business using one business license and one unified social credit code”, launching the function of downloading electronic business licenses via WeChat and Quick Pass mobile applications.
- Simplifying the documentation format requirements of business registrations, accelerating the review process;
- Encouraging profit generating representative office of foreign enterprises to transform into foreign-invested enterprises, promoting one-stop processing of foreign-invested business record filing and business registration for foreign-invested enterprises.
- Deepening “Guangzhou-Hong Kong Connect” and “Guangzhou-Macao Connect” co-operations, enabling Hong Kong and Macau investors to perform business registrations offshore.
Facilitating business entry and operations
- Shortening the time of incorporating companies to 2.5 working days in 2019, and to 2 working days in 2020;
- Accelerating the review process of 106 business matters requiring administrative approval, for example, by, cancelling the review procedure, replacing review requirement with record filing and optimising the business entry services.
Promoting the development of private economy
- Deepening the transformation and upgrading of individual-owned businesses, further relax the categories of enterprises eligible for upgrade, facilitating the tax administration and real estate registration in connection with the upgrade.
Facilitating market exit
- Setting up the Nansha pilot zone to explore the feasibility of simplified business de-registration.