Since 2013, the new leadership of the Chinese government has initiated a reform with respect to the registration and administration system for enterprises in order to reduce their excessive regulatory burdens and stimulate business start-ups and competition in the market.
Updating the credit system
Companies are now required to publish their business information on an online disclosure platform. While this is a positive step, factors such as the light penalties for non-compliance and standardising the system across all authorities need to be addressed
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