Standing Committee of the State Council approves Draft Regulation on Registration of Market Entrants
20 Apr., 2021  |  Source:Economic Information Daily  |  Hits:1807
Premier Li Keqiang presided over an executive meeting of the State Council on April 14, and adopted a draft regulation on the registration of market players, which provides legal guarantee for fostering and strengthening market players and promoting fair competition.

The draft integrates the already issued administrative regulations on the registration and administration of market entities, and makes unified provisions on the registration and administration of all kinds of enterprises, individual industrial and commercial households, and specialized farmer cooperatives engaged in profit-seeking business activities within the territory of China. It mainly includes :

(1) Improve the convenience of registration. Carry out on the spot to do, do a limited time to do, do on the Internet, different places can do. The registration authority shall register on the spot if the application materials meet the statutory requirements; If it is not possible to register on the spot, it should be registered within 3 working days. The electronic and paper business licenses have the same legal effect. 

(2) Simplify application materials and registration links. The registration authority shall not require the applicant to provide the relevant information that can be obtained through the government affairs information sharing platform. If the application materials are incomplete or do not conform to the legal form, the registration authority shall inform the applicant of the materials that need to be supplemented and corrected at one time. 

(3) In order to promote the solution of "difficult cancellation", it clearly stipulates that the market subject has not occurred or has paid off the creditor's rights and debts, employees' wages, social security expenses, taxes payable, etc., and promises in writing to bear the relevant legal liabilities and publicize them in accordance with the regulations, the cancellation can be handled according to the simple procedure, among which the individual industrial and commercial households need not publicize them. 

(4) In order to reduce the maintenance cost of market entities, set up a shutdown system. Where operation difficulties are caused by natural disasters, accidents and disasters, public health events, etc., a market entity may decide on its own to close down its business within a certain period and file a record with the registration authority. The longest shutdown shall not exceed three years. 

(5) Clarify integrity and regulatory requirements. Market entities shall register with their real names, be responsible for the authenticity, legality and validity of the materials they submit, and publicize annual reports and registration information in accordance with regulations. For those who submit false materials or commit other fraudulent acts during registration, their registration of market subject shall be revoked, and the person directly responsible shall not apply for registration again within 3 years. 

(6) Clarifying the legal responsibility and punishment measures for illegal acts. We should strengthen the pertinence of punishment, revoke the business license if the circumstances are serious, and maintain the market order of honesty, trustworthiness and fair competition.


Liu Xingguo, a researcher with the research department of the China Enterprise Confederation, said that in order to maintain the vitality of market entities, it is necessary to further simplify the registration and cancellation procedures of market entities in accordance with the principle of facilitation and reduce related costs. Focusing on this issue, the Standing Committee of the NPC has made new reform plans, which will help stimulate market enthusiasm for entrepreneurship and add new impetus to ensuring steady growth and employment.

At the China international economic and exchange center for economic research, vice minister of xiang-dong liu's opinion, perfect the market main body registration management rules, is conducive to consolidate the market main body rights and responsibility, in the form of legal safeguard fair competition market main body, build more good market competition environment, strengthen the basic position of competition policy and activate market main body, We will guide more market players on the track of fair competition and encourage them to develop in accordance with laws and regulations. (reporter Ban Juanjuan)

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