Shanghai FTZ targets first-class business environment

Over the past decade, the China (Shanghai) Pilot Free Trade Zone ramps up efforts to promote the transformation of government functions and build a market-oriented, rule of law-based and internationalized business environment through institutional innovation. [Photo provided to chinadaily.com.cn]

Over the past decade, the China (Shanghai) Pilot Free Trade Zone has been ramping up efforts to promote the transformation of government functions and build a market-oriented, rule of law-based and internationalized business environment through institutional innovation, according to a local government official.

Yang Chao, deputy head of Pudong New Area and deputy director of the administrative committee of the Shanghai FTZ, said the FTZ has granted greater autonomy to businesses by launching a commitment system for the registration of enterprises' names and a confirmation system for market entities.

For instance, high-frequency registration matters have been transformed into a self-disclosure policy, allowing companies to complete the supervisor registration process online without having to submit application materials.

This has also reduced the time it takes to handle such affairs, enabling businesses to open with just one certificate. The legally mandated 95 working days have been reduced to five working days for store openings.

Shanghai FTZ has also implemented the "one-network operation" to improve the efficiency of government services, achieving unified authentication, acceptance, feedback and supervision for enterprise-related affairs.

Shanghai FTZ implements the "one-network operation" to improve the efficiency of government services. [Photo/WeChat account: zhangjiangfabu]

It has also launched digital government services incorporating artificial intelligence to automatically generate application materials.

The zone is striving to optimize its business environment based on the law and governing regulations.

Shanghai FTZ has expanded its credit-based tiered regulation to 57 major sectors in Pudong, reduced the invention patent authorization period from 3 years to 3 months, and established an international IP protection stronghold.

It also focuses on the common needs of enterprise development and special requirements in key industries, complying with 18 laws, such as One Industry, One License and IP Protection, issued by the Standing Committee of the Shanghai Municipal People's Congress, as well as 17 management measures of Pudong New Area.

The China (Shanghai) Pilot Free Trade Zone ramps up efforts to promote the transformation of government function. [Photo provided to chinadaily.com.cn]