Nanyang cuts red tape for entrepreneurship

Nanyang's efforts to cut red tape and encourage entrepreneurship is bearing fruit, with 20,944 companies newly-registered in the city in the past three months, according to the Nanyang Administration for Industry & Commerce on Oct 30.

Nanyang rolled out a "all-in-one" business license on Aug 1, integrating the 35 certificates a new company may need to apply for separately from 17 different organization bodies including Development and Reform Commission, Bureau of Public Security or Bureau of Land and Resources.

Thanks to the new policy, companies in Nanyang only have to submit one application to the Nanyang Administration for Industry & Commerce before obtaining their business license within three workdays. Or they can simply file an application via the Online Service Platform for Business Registration of Henan Enterprises.

According to Zhao Tianlin, deputy director of the Nanyang Administration for Industry & Commerce, the move not only eases the administrative burden imposed on companies, but lowers the threshold for entrepreneurship and thus boosts employment.