East China’s Jiangsu province has given full play to the role of market players in post-pandemic recovery in a bid to soften the impact of the pandemic on economic development.
Since the onset of the COVID-19 pandemic, Jiangsu has reduced and exempted 128 million yuan of commissioned inspection and testing fees, special equipment inspection fees, and medical device and drug registration fees for small and medium-sized enterprises.
1171 market players accused of minor violations are exempted from punishment.
Jiangsu has also helped local companies raise 208.12 billion yuan against movable property mortgage and intellectual property pledge.
Separation of licenses from permit and the commercial registration confirmation system has optimized the business environment, and relaxed market access.
The time spent on going through the formalities has been decreased to 2 working days and the maximum time for the approval of industrial product production licenses has been reduced by 58%.
(Source:ourjiangsu.com)
