Six groups of reform measures tested in pilot free trade zones will be replicated and promoted across the country, a notice issued by the State Council on July 7 said.
They cover five areas: investment management; trade facilitation; financial openness and innovation; operational and post-operational oversight; and human resources.
To reform investment management, green channels will be set up for approval procedures for electricity projects, real estate registration will be more convenient for members of the public, and smart technologies will make small value-added tax declarations easier.
Management and supervision of imports and exports will be further upgraded across the country to facilitate trade, intellectual property will be securitized, and risk control for lease finance companies will be based on big data.
Meanwhile, measures including one-time utility operation approval for construction projects and a new business model for secondhand automobile exports will be adopted in designated pilot areas.
In addition, a few measures will be implemented in supervised bonded places and areas administered by the Chengdu Railway Bureau.
The State Council said governments at all levels and all ministries should fully implement the measures to further improve the business environment and stimulate the market to build a more open economy.
Source: China Daily
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