Since the registration confirmation system came into effect on September 1, more than 2,300 enterprises in Beijing have handled their registration through the system. Market entities in the China (Beijing) Pilot Free Trade Zone are full of vitality, attesting to success of reforms.

From September 1, 2022, domestic-funded enterprise legal persons (excluding listed companies) and their branches in the China (Beijing) Pilot Free Trade Zone may choose to apply for establishment, alteration (recordation) or deregistration through the registration confirmation system, which is much more convenient compared with the regular registration procedures.

Application is easier, as remote processing is a key feature of the registration confirmation system. Applicants can log onto the e-window service platform to fill in forms, give confirmations, and submit all required materials to finish the application for registration with just a few clicks.

Moreover, the registration confirmation system gives full play to credit information publicity. Articles of association are no longer reviewed. Instead, market entities are encouraged to disclose their articles of association, actual production and operation premises, and other information on such platforms as the National Enterprise Credit Information Publicity System. Thus, counterparties and the public can access relevant information about a market entity with ease. Such information disclosure urges market entities to do business in good faith and ensures compliance. Besides, it also improves information transparency of market entities and guarantees safe transactions.

(Source: Chinanews.com)