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Govt policy moves from the past week

Xu Wei
Updated: Jan 8,2019 9:02 AM     China Daily

Easier deregistrations for companies in pipeline

The central government will introduce measures to make it easier for owners to deregister a company as part of efforts to better the business environment, according to a decision at a State Council executive meeting chaired by Premier Li Keqiang on Jan 2.

A statement released after the meeting said the procedures for deregistering companies will be simplified. Individuals wanting to deregister their companies now only need to publish the information through the National Enterprise Information Credit Information Publicity System instead of having to publish notices in newspapers, the statement said.

The number of materials required for deregistration will be reduced significantly, and individuals filing for such services need only provide items such as liquidation reports. Companies that have been denied requests for deregistration can apply again when set conditions are met, it said.

Deregistration procedures that involve the tax, social security, commerce and customs authorities will be further simplified. Taxpayers who have not applied for the use of invoices and those who do not owe taxes can be exempt from tax clearance procedures. Businesses that do not owe social security fees can also apply for a quick deregistration process, it added.

The government will also promote one-stop online deregistration services via administrative service platforms, and conduct joint law enforcement targeting market entities that have lost their social credit, the statement said, adding that the new measures are expected to halve the amount of time needed for some business deregistrations.

Comprehensive bonded zones to be upgraded

The State Council executive meeting on Jan 2 decided to roll out measures to upgrade the country’s comprehensive bonded zones in line with advanced international standards.

More efforts will be made to facilitate domestic sales by companies in the zones, a statement released after the meeting said. Businesses in the zones will be granted general taxpayer status for value-added tax as part of a pilot policy. Processing and manufacturing companies in the zones will be allowed to undertake outsourced processing businesses from outside the zones for the mainland market. Applications for the automatic import license will no longer be required for selling products made in the zones, such as cellphones and auto parts, in the domestic market.

In order to spur research, development and innovation, all goods and items that companies in the zones import for research and development purposes will be exempted from import licensing, the statement said.

In the course of corporate production and operation, any eligible item entering the comprehensive bonded zones and bonded goods being transferred from one zone to another will be exempted from customs clearance procedures.