China to further ease market access in pilot free trade zones

China's State Council decided Wednesday to further ease market access by promoting separation of permits from business licenses in pilot free trade zones (FTZ).

Aerial view of Nansha Free Trade Zone [File photo: IC]

Starting December 1, the country will carry out trial programs of separating operation permits from business licenses in all pilot FTZs, according to a statement released after a State Council executive meeting chaired by Premier Li Keqiang.

The move, in a bid to level the playing field for all market entities, is conducive to improvements of the business environment, the statement said.

The separation is also one of the forceful measures to stabilize employment, according to the meeting.

China will further cut the red tape concerning 523 items related to business operation permits set by the central government, the meeting decided.

Thirteen items of approval concerning foreign trade will be cancelled. More items of approval will be simplified, require shorter time for approval or have a longer period of validity, the statement said.

The government will strengthen its supervision and improve its service to enterprises, while mature practices of the reform will be promoted nationwide in a timely manner, the meeting noted.