At a press conference to promote capital registration system reform on March 10, Hebei provincial government officials introduced the new company capital registration system.
The implementation of the new system on March 1 has stimulated entrepreneurial activity throughout Hebei province.
By March 7, 14,526 market bodies had been approved. Newly-registered market bodies had reached 7,372.
According to the new registration system, it loosens the registration policy . The registered capital minimum requirement has been canceled. The industry and commerce organs only register the total amount of registered capital contributed by shareholders.
The Hebei market body credit information system is already up and running, offering an information platform for people to search company registration information online.