Institutional costs are reduced and market entities are activated.
Recently, the "Regulations on the Implementation of the Market Access Commitment System for Hainan Free Trade Port" (hereinafter referred to as the "Regulations") were officially announced and implemented, further relaxing the market access threshold for market entities. At present, the first batch of 6 items for the implementation of the market access commitment system have been reviewed, approved and announced by the Standing Committee of the Hainan Provincial People's Congress.
It is reported that the introduction of the "Regulations" aims to promote free and convenient investment and stimulate the vitality of various market entities.
The market access commitment entry system means that except for special areas, market players can enter the market by making a commitment to cancel licensing and approval. Hainan Free Trade Port will, under the premise of "being able to control", cancel licensing and approval in principle for areas with mandatory standards, establish and improve the filing system, and market players can carry out investment and business activities by promising to meet relevant requirements and submitting relevant materials for filing.
The Regulations require that the matters for which Hainan Free Trade Port implements the market access commitment entry system shall be managed by a list and adjusted dynamically in accordance with the law. The relevant competent authorities that perform the approval duties in accordance with the law shall inform the market entities of all kinds of requirements for carrying out relevant investment and business activities at one time. The content of the notification shall be comprehensive, accurate, easy to understand, quantifiable and operational, and shall not be vague, contain no umbrella clauses, and shall not attach additional filing conditions.
The Regulations clearly state that market entities shall make written commitments when filing matters related to market access commitments. If foreign investment is involved, foreign investors or foreign-invested enterprises shall submit investment information in accordance with the law. After market entities make written commitments and submit filing materials that meet the requirements, the relevant competent authorities shall handle the filing procedures on the spot and issue filing certificates.
The Regulations emphasize that the relevant competent authorities will conduct verification of the commitments of market entities within two months from the date of issuing the filing certificate, and strengthen supervision during and after the event. If a market entity fails to fulfill its promise or violates the law, it will be punished according to law. If a market entity fails to file a record, or fails to submit materials within the agreed period, the materials do not meet the requirements, or submits false materials before engaging in investment and business activities, it will be ordered to rectify or be fined; if it constitutes a crime, criminal liability will be pursued according to law. For materials that can be submitted within a certain period after filing, the incomplete materials will be handled with tolerance and the materials will be submitted within a time limit.
Institutional costs are reduced and market entities are activated.
Since the construction of Hainan Free Trade Port, Hainan Province has always paid attention to optimizing the business environment. Previously, 111 business license items involving enterprises were subject to the notification and commitment system. The release of the "Regulations" this time is a leapfrog "upgrade" of the notification and commitment system, changing the approval of the license that implements the commitment-entry system to filing.
In the first eight months of this year, Hainan Province added 610,000 new market entities, and the number of market entities has now exceeded 2 million.
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