Reforms to improve business environment

The State Council has detailed multiple reform measures to improve the business environment and invigorate the market.

While China's business environment has seen remarkable progress in recent years, operational barriers still exist, according to a circular released by the Cabinet last week that listed reforms in four areas to spur business vitality.

China will push for the full adoption of online procedures for starting a business in order to reduce the time required for setting up an enterprise to no more than four working days, the circular said.

It also pledged to simplify regulations and approval procedures, while calling for new breakthroughs in the business registration system.

The power of approval for businesses related to five product categories, including steel bars for construction purposes, will be decentralized to provincial-level market regulators.

Xinhua contributed to this story.