SHENZHEN will promote the application of an electronic business license that can be completed in one day, according to a special work report on optimizing the city’s business environment that was reviewed by the city’s top legislature Sunday.

According to the report, in order to further push business environment reform, Shenzhen will actively explore the enterprise delisting system and promote the application of e-business licenses, the Daily Sunshine reported.

Shenzhen will upgrade the online service platform for starting businesses, expand data sharing among departments and streamline the application of business licenses.

Starting tomorrow, Shenzhen will also engrave the official company seal for new enterprises free of charge.

The city will speed up the reform of real estate registration and promote information sharing among urban renewal, notarization, courts and other departments to facilitate the application of loans and registration of mortgages.

According to the report, the city government is expected to reduce the cost burden of enterprises by more than 150 billion yuan (US$21.47 billion) this year.

By the end of October, the city had a total of 3.22 million business entities, the report showed.

In 2018, the GDP of small and medium-sized enterprises (SMEs) in Shenzhen reached 1.16 trillion yuan, accounting for nearly 50 percent of the city’s total GDP. The tax revenue contributed by SMEs accounted for about 70 percent of the city’s corporate tax revenue.

(Zhang Yu)