Anhui province's first corporate credit information report is issued in Hefei National High-tech Industry Development Zone. [Photo/WeChat ID: hefeigaoxinfabu]

Hefei National High-tech Industry Development Zone recently conducted the trail of replacing several administrative compliance certificates with one corporate credit information report, becoming the first in Anhui province and the first national high-tech zone to pilot the measure.

The measure reduces the number of procedures and length of time it takes for enterprises to gain government approval, and thus helps make it easier for enterprises to go public and raise funds.

On April 14, Hefei IC Valley Microelectronics, an enterprise in the zone preparing to go public, became the first beneficiary. Liu Jiabing, general manager of the company, received the corporate credit information report from Liu Dengyin, deputy director of the administrative committee of the zone.

"In the past, we had to go to nearly 10 departments to obtain administrative compliance certificates, but now we only need to apply online to one department, and we will get a credit report three days later, which greatly shortens the process and time of pre-IPO work," Liu said. He said that he is very grateful that the zone's government approved piloting the measure. "This helped relieve a lot of burdens for us, and it is the best embodiment of the government's efforts to optimize the environment for enterprises."

According to local officials, the pilot is a major move in the construction of Hefei's social credit system, and it will be promoted throughout the city. It is also part of local efforts to deepen reforms to streamline administration and delegate power, improve regulation, and upgrade services to improve the business environment.