About Hunan

Hunan Deepens Institutional Reforms in Business Sector


On January 9, the Hunan Province Administration for Industry & Commerce (HPAIC) and Hunan Branch of Industrial and Commercial Bank of China (ICBC) signed a strategic cooperation agreement on facilitating enterprise development. According to the agreement, entrepreneurs can consult and handle business registration at the ICBC Hunan Branch’s 537 banking outlets for corporate business. Now there are totally more than 1,000 banking outlets offering business registration service around Hunan.

Since the launching of the institutional reforms in the business sector, the HPAIC has made great efforts to optimize Hunan’s business environment. It has implemented a number of measures: with regard to capital registration, the paid-in capital scheme has been replaced with a pledged capital scheme; the registered companies can get business licenses before getting the administrative permits; different forms of businesses certifications are merged into one; and, online registration and electronic business licenses are adopted. These efforts have stimulated market vitality. By the end of December 2017, the total number of market entities in the province reached 3,363,300.

In 2017, ICBC Hunan Branch handled Hunan’s first batch of electronic business licenses application for entrepreneurs.

The HPAIC and ICBC Hunan Branch will also conduct all-round cooperation in information exchange and financial services, to further enhance "government administration + finance" service, and boost the real economy development.

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Translator: Xiao Juan

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