On Aug 24th,2021, a new regulation, Regulations of the People’s Republic of China on Administration of the Registration of Market Entities, issued by the state council of the people’s republic of China. This new regulation will be taken into force on March 1st,2022.
Ma Xiaobai, an associate researcher at the Development and Research Center of the State Council, said energizing market players is key to keeping employment stable, generating incomes and coping with external shocks.
As the first of its kind in giving unified requirements on registration of market entities, it is seen as a critically important step that will work effectively in energizing China’s tens of millions of market players in the long run.