Today is the first working day with the new Chinese business registration system in effect. We’ve translated a Chinese news piece about the changes below.
The digitisation system and QR codes on the business license are particularly interesting. Hopefully this will usher in greater transparency and openness in China’s business environment.
Starting from the 1st of March, China will put a new version of the business license into use.
Unlike the old business license with its horizontal format, the new one has a vertical format and is the size of an A3 sheet of paper. The new business license reduces and merges its presentation of different business entities into one format with eight specifications. The unified term “Business License” will be used instead of various terms such as “Enterprise and Corporation Business License”.
On the new format business license, the ‘paid-up capital’ field has been removed. Apart from including the ‘name’, ‘legal representative’ and ‘business scope’ fields, a QR field has been added, making it possible to go directly to the website of the company information system and look up information about the company. The two sides of a deal only need to scan the QR codes on each other’s business license, and they can find out about their authenticity. Normal consumers can also use the same method to check the authenticity of a company’s business license.
On the 18th February, the State Council officially launched the “Plan for the Reform of the Capital Registration System”, specifying that the reforms to the capital registration system would be fully implemented on 1st March.
The plan puts forward five aspects for improvement of the business environment:
Although many factory's have their own laboratories, few of these are independently certified so requesting testing by external testing body is a wise move in many circumstances.
These testing bodies should be accredited and you can make sure of this by requesting a copy of their China laboratory accreditation certificate.
Most large economies have systems in place for categorizing their companies, and China is no different.
The China Industry Classification system is widely used in the collection of official statistical data on companies and organizations throughout Mainland China.
With so many products being made in China it comes as no surprise that China shipping ports are among the busiest in the world.
We've looked up the figures, and in this article present the 8 China shipping ports which handle the most shipping containers.