In order to create a favorable business environment for local companies, the Wuhan government has launched 23 policies to spur market vitality. These policies involve market access facilitation, innovation, quality control, credit management and company rights protection. The core points of the 23 policies are summarized as follows.
Simplified government services
The 23 policies require that paperwork concerned with start-up enterprises, including that of registration, tax, social insurance and housing funds, should be minimized. Newly-registered firms now are entitled to simplified government procedures either online or offline. In addition, start-ups are offered free electronic business licenses, electronic seals, tax Ukey and a free official seal-making service.
Enterprises can set branch firms by declaring the specific location of the branch firm to the government and applying for its approval.
Cancellation or alteration of enterprises can be processed online. Registration for firm cancellation now only takes 20 days, and firm alternation requires only one day.
Enhanced IPR protection
The Wuhan government has built several service platforms based on intellectual property right (IPR) protection, such as IPR Big Data Center, IPR Operation Center and Cultivation Center for Valuable Patents. Emerging sectors such as e-commerce will be prioritized with regard to IPR protection. Major and competitive industries and sectors in Wuhan will also enjoy more convenient IPR-related services.
On the other hand, attention is being paid to financial products that might be involved in intellectual property. Measures are being taken to ensure the process of IPR securitization.
Relieved punishment
The 23 policies request that market regulators should be tolerant of new market entities for any first-time minor violations of the law. Other types of punishment that enterprises might receive will be reduced to varying degrees.
Firms will be granted more independence in management so as to maintain their normal operation as much as possible. Items and affairs that need government review or supervision will be given random checks, which will be conducted in terms of the credit risk evaluation of each company.
Strengthened product quality
The Wuhan government will continue to strengthen quality control of its local products, with a goal of building more than 10 local quality brands. A total of 200 small and medium-sized enterprises are expected to participate in a campaign for product quality increases.
The city will boost its quality test services by promoting clusters of high-tech service providers and one-stop quality services for businesses.
