China's commercial authorities have canceled registration requirements for businesses engaged in foreign trade activities from Dec. 30, 2022, following a revision of the country's Foreign Trade Law, the Ministry of Commerce said.
The authorities will no longer require market entities to provide foreign-trade operator registration materials in applying for import and export licenses, registration certificates of technology import and export contracts, quotas, state-owned trade qualifications, and other relevant documents.
The change is a significant reform measure in foreign trade management, the ministry said.
It is an important institutional innovation for the government to promote trade liberalization. It would help optimize the business environment, release the potential for foreign trade growth, and promote high-quality trade development and high-level opening up, the ministry said.
(Source: Xinhua)
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