China's State Council has approved a plan to reform business registration. The plan aims to ease market access and scraps minimum requirements on registered capital. That's for limited liability and one-person limited liability companies and joint-stock companies with limited liability.
中国国务院已经审批通过一项对工商注册进行改革的计划。该项计划旨在放宽市场准入条件并取消了关于注册资本最低要求的限制。
The plan also simplifies the registration of business venues. In addition, registered companies will now publish annual reports instead of going through annual inspections.
该计划还对商业场所的注册进行了简化。另外，注册公司将可以发布年度报告的方式取代年检。
Those that falsify reports or fail to properly release reports will face legal consequences. The State Administration for Industry & Commerce today set March 1st as the day for the reforms to begin.
对年度报告进行伪造或不能按时提交年度报告的公司将面临法律责任。国家工商总局就爱那个从3月1日起开始执行该改革。