Simplicity in FTZ proves a boon

A corporate representative receives the business license for his company, one of the first that have applied to register in the pilot free trade zone in Shanghai, yesterday. Xinhua

A simplified registration and processing system on trial in Shanghai's newly set-up free trade zone has helped corporations there to receive their business licenses within four working days.

The system helps simplify the setting up of an operation through online registration or by submitting materials to one-stop service desks in the zone. It also eases administrative procedures and reduces processing time from 29 days to four days.

So companies registered in the zone on October 8, the first working day after the week-long National Day holiday, got their business licenses yesterday.

"It took us only half an hour to register online, and we received the license four days later," said Qian Shengrong, whose company was among the first batch of enterprises to get the licenses yesterday.

The newly-launched registration system, which replaced the previous approval mechanism, has been identified as one of the major reforms in the zone.

Around 600 people flock daily to the nearly 29-square-kilometer zone, officially opened on September 29, to file registrations. Almost 2,000 people seek advice and information daily.