The State Council approved a plan on Aug 19 for a unified collection of business information from governments at all levels.
The move is aimed at establishing a public notice system through a nationwide credit sharing platform, thus further separating government functions from enterprise management.
Business information refers to information involved with enterprises that require publicity according to the law, such as records for enterprise registration, mortgage records, equity pledges, intellectual property pledges and trademarks, administrative licenses, administrative punishment records and blacklists for abnormal business activity or low credit enterprises.
Regions and departments should provide the information to market regulatory authorities or administrations for industry and commerce at the same level within seven days after collection, and the latter should put the information on the nationwide credit information sharing platform within 20 days.
With a public notice system, people can search for business information using search engines or cross-regional database query tools, so that the cost of social trade and transaction will be lowered, says the plan.