01:05
The Chinese government is rolling out what officials call a "single window" system that would make doing business easier for foreign investors.
The new policy was announced by the Chinese Ministry of Commerce in a press conference. The Ministry is describing the single window as "one connection and two singles". "One connection" means linking the databases of local commerce authorities, and local administrations of industry, commerce, and market regulation. And "Two Singles" means foreign investors will be able to file records and have their business registrations processed through a "single window" on the websites of local administrations of industry, commerce, and market regulation. The new system will be in place by the end of June.
WANG SHOUWEN CHINESE DEPUTY COMMERCE MINISTER "The whole process will require no paper, no face-to-face services and zero charges. Foreign investment enterprises and foreign investors will no longer need to apply to two agencies or to fill in multiple forms repeatedly, which will cut their costs in time and human resources."