Guangzhou has become China's first city to introduce a Web-based system for foreign investors to complete formalities for their business.
The city's Industry and Commerce Administration has also opened a microblog for foreign business registration, with daily updated instructions and tips for business registration.
With the new system, a foreign investor can complete all related formalities for business registration online in two or three days, compared with 10 to 15 days previously. Moreover, after the registration, a business license can be sent to the investor via EMS. Industry and Commerce Administration officials have also opened instant messaging and Web video systems to communicate with foreign investors so that better services can be provided.
The Industry and Commerce Administration also has plans to introduce a joint online review and approval system with the city's Bureau for Foreign Trade and Economic Cooperation in 2011. The system will significantly speed up the approval process.
(Translated by Guangzhou Association of Foreign Affairs Translators)
