Start a firm in 5 working days in Xiamen
New companies can be established in Xiamen, Fujian province, in five working days thanks to a new online platform launched this month, local media report.
Based on Xiamen Market Supervisory Authority's online approval system, the new platform offers services such as online banking and appointment scheduling.
Applicants can complete all procedures required for the starting of a company in a single session using the platform.
Existing procedures were streamlined to just three: company registration, official seal production, and the application and collection of invoices, all of which can now be completed in five working days.
Why Xiamen
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Xiamen is one of the most economically competitive cities in China and was one of the first Special Economic Zones on the Chinese mainland. As a vice-provincial city independently listed on the State development plan, it has provincial-level authority in economic administration and local legislative power. In 2010, the Xiamen SEZ was expanded to cover the entire municipality. Today, Xiamen is a modern and international port city.