ECONOMY

Reform in FTZs

Enterprises in pilot free trade zones (FTZs) are enjoying more benefits from the efforts to further streamline approval procedures, according to the top market regulator.

China started the pilot reform to separate business operation permits from business licenses in all 18 pilot FTZs on December 1, with a negative list-based management system as one of the highlights of the reform, Tang Jun, deputy head of the State Administration for Market Regulation, said on December 4.

For all items not on the list, permit requirements will be lifted to help build a stable, fair and transparent market environment, he said.

Before the reform, enterprises had to get operation permits before getting their business licenses, which could be