The reform of industrial and commercial registration system has stimulated more and more people to establish their own businesses in Yichang. According to the Municipal Industrial and Commercial Bureau, the number of newly-registered enterprises rose by 22% monthly compared with that of the pre-reform period. Moreover, the implementation of "the business license first, the permits second" further released the vigor of the market. From July to September, 16,750 enterprises and self-employed entrepreneurs have benefited from the reform.

　　1) The practice of “business licenses first, business permits second” saves both time and money of the applicants.

　　Huang Jiongwei, a 28-year-old young entrepreneur, was busy discussing with his clients about an environmental project which is under research in his company. In March this year, Huang Jiongwei was the first person to have obtained the new business license after the reform. Thinking back the registration process , he still felt "as lucky as a dog."

　　It turned out that since last year he had been thinking about starting a company together with his friends, which is intended to focus on the research and production of environmental protection products and so on. Later he learned that the new registration system would be implemented in March; he decided to "wait and see."

　　Subsequently, he was able to enjoy many favorable policies brought about by the reform, e.g. the verification report becomes unnecessary; one form is all that he needs to fill in, and the application is to be approved on the spot, etc.

　　In March this year, the new registration system, namely, the commitment to payment of registered capital, was fully adopted in Yichang City. Although the actual paid-in registered capital is still needed in the 27 industries being designated by law, administrative regulations or the decisions of the State Council, it is no longer required in many other industries. That means when the applicants in those industries fill in the various forms for registration, they no longer need to submit the application for verifying the capital, or to fill in the form for the actual amount of the paid-in capital. A newly registered company can receive the business license directly as long as all necessary documents for application are submitted timely for approval. “The new provisions do not necessitate the verification report, neither the paid-in capital when filling in the registration. It saves a lot of trouble for investors. "Huang Jiongwei told the reporter. In the past, it took at least three days for obtaining the capital verification report. In addition, some application fees are charged. What is more, the actual paid-in capital is required for verification, which put much pressure on entrepreneurs or new companies. The implementation of the new registration system has relieved much pressure.

　　Huang is not the only person who has benefited from the reform of industrial and commercial registration system..

　　On July 14, Xinrong Clothes Co., Ltd. in Yichang was the first company to obtain the Business License, the Organization Code Certificate and the Tax Registration Certificate  at one time in the Municipal Administrative Service Center, avoiding the pain of going through the complex procedure for application.

　　In the same month, Ruituo Building Materials Co., Ltd. in Yichang was the first company to receive the Business License after the implementation of "the business license first, business permits second" in Hubei Province. The person in charge of the company said they can prepare the company\'s opening-up and apply for the other business permits after receiving the business license, which saves the cost of business operations and time as well.

　　On August 13, Li Tao, a person in charge of Zhuoen Trading Co., Ltd. in Yichang City received the Business License through online registration, and he also received the Tax Registration Certificate and the Organization Code Certificate. "The online registration is really convenient! Two days ago I submitted an on-line application for registration, and today I received the business license. " Li Tao said.

　　2) 263 new companies were established daily in September

　　According to the Integrated Department of the Industrial and Commercial Branch Bureau of Yichang City, after the reform of the industrial and commercial registration system, the number of citizens who came to consult about the policy increased significantly. In the past, about 70 applications were handled daily in the Municipal Administrative Service Center. Nowadays after the adoption of the business license going before business permits, more than 120 cases, and 200 ones in busy time were dealt with. In September this year, the number of the city\'s emerging market players is 7,890, which means that 263 bosses came into being every day in September.

　　It is reported that in February this year, the State Council approved and promulgated the Reform of Registered Capital Registration System drafted by the State Administration for Industry, which is a prelude to the reform of market players’ access system.

　　On March 1, the reform of the market access system was launched in Yichang City and was officially implemented in July by learning from the experiences of Shanghai FTZ (Free Trade Zone). The six institutional innovations include a) granting free access to applicants as long as the application industry is not included in the “Negative List”; b) providing the fast approval service featuring “one application form, one counter service, and one window issuing the licenses and permits” ; c) innovating registration system by practicing the “license first, permits second” for the new market players; d) reforming the registration system of foreign investors and implement record keeping of foreign investments; e) reforming the residence registration system with sort management; f) providing online registration services.

　　As an important measure to cut red tape and promote the services of “one application form, one counter service, and one window issuing all certificates”, the Industrial and Commercial Bureau accepts the application forms of the applicant on the same counter at one time, then transfer the documents to Commerce Administration, Revenue Department and Quality Inspection Department respectively. Thus the Business License, Tax Registration License and Organization Code Certificate can be handled and issued simultaneously. This reform took the lead across the country. “The reform can save plenty of time and cost of the applicant, thus stimulating people’s enthusiasm to invest’’, said by Wang Derong, who is the director of the integrated department of Registration Bureau in the Yichang Industrial and Commercial Bureau.

　　As the statistics shows, retailing business ranks first among the newly registered industries and exceeds the half of its total number. In addition, the number of leasing industry, business service industry and manufacturing industry is apparently on the rise. Among the self-employed, the retailing business also comes the first, which is followed by repair business and the others.

　　Wang Derong said that the relaxation of registered capital requirement and “the business license first, business permits second” policy have greatly promoted the development of tertiary industry.

　　3）Strict management for the newly registered companies to ensure their smooth operation

　　Will the trouble come after the above reform was carried out? Wang Derong said it is impossible because the strict supervision will be carried out for those new companies.

　　For instance, after “the paid-in capital policy” is replaced by “the commitment to registered capital policy”, the entrepreneur determines how much registered capital he is going to pay and when to pay off. But it does not mean he just needs to make commitment without payment.

　　It is learned that in addition to publicizing the information regarding the commitment to registered capital, the spot check will be adopted by the Industrial and Commercial Department. If the entrepreneur does not keep the promise to pay for registered capital, the department will punish it according to relevant law and put it into “ill-operated enterprises” list, even in the state-network blacklist. All these information can be found on internet. Once being punished, the company activities would be greatly restricted.

　　In addition, strict supervision also includes the shift from the related department supervision to society supervision. Credit information platform will play a constrained and vindicatory role in supervising the unreliable enterprises. Take “the business license first, business permits second” policy for example, if one enterprise is found to start its business only with the business license and no permits, this kind of behavior will be recorded as being lack of credit and be made known to the public. Everyone can thus watch closely the accountability of an enterprise.

　　The Industrial and Commercial Administrative Bureau points out, the lowered thresholds for market access stimulated more and more people to start their own businesses. On the other hand, it will force the government approval departments, to establish supporting regulatory measures relating to the work of “license first, permits second”, realizing the policy of easy access and strict supervision. . This is a substantial change for supervision method. (Reporter: Zhu Yanjun; Correspondent: Bian Cheng)