Regulators aiding firms in resuming operations

SHANGHAI’S market authorities are pulling out all stops to help businesses resume normal operation interrupted by the COVID-19 pandemic resurgence and get through the tough period.

Since April 6, 106 companies have obtained business licenses through the whole paperless application, review and issuing process in the city, the Shanghai Administration for Market Regulation revealed yesterday.

Since the resurgence, local market regulators have been using online handling procedures for applications of newly established companies.

The practice has been hailed by businesses.

“I thought it may take longer for the business license to be issued but to my surprise, I filed the application at 10am and received the notice at 2pm that the e-version business license was ready,” said Li Dongmei, general manager of a newly established information science and technology company registered in Xuhui District.

Market regulators have been providing services non-stop despite the pandemic, and all applications are handled on the day they are filed.

L’Oreal China decided to set up an investment company in suburban Fengxian District. However, the pandemic resurgence meant that its overseas senior management staff were unable to sign relevant documents.

Via remote online guidance from market officials, L’Oreal submitted e-version application materials, and the new company was established.

Market regulators said that the aim is to fuel the development of market entities and create a supreme business environment in the city.

“With the pandemic gradually waning and normal order steadily returning to the market, we will step up efforts to help market entities get through and tackle their difficulties,” said Chen Yanfeng, deputy director of the administration.