Shanghai's market regulatory authority unveiled a comprehensive action plan on March 2 to create a world-class business environment, focusing on streamlining market access, promoting fair competition, refining regulatory practices, and optimizing market exit mechanisms.

Under the plan, Shanghai aims to make it easier for businesses to open new stores by simplifying related procedures.

Authorities will integrate approval, supervision, and services, focusing on frequently established business types such as convenience stores, beverage shops, and small restaurants.

The city plans to optimize the enterprise data reporting mechanism by expanding the "one-stop enterprise data filling" service, which allows companies to submit information once for use across multiple applications.

Authorities also intend to promote the application of artificial intelligence in business registration, enabling features including intelligent name verification and assisted application, business scope recommendations, and automated document generation.

Shanghai will enhance its fair competition review system, and intensify law enforcement against monopolies and unfair competition, including addressing disorderly price cutting and excessive competition.

Platform algorithm governance will be strengthened to regulate online platform operations, and foster balanced development for platform enterprises, merchants on the platforms, and workers.

The action plan prioritizes improving the product quality oversight system by strengthening inspections and expanding the disclosure of results to encourage higher product standards.

Regulators will also standardize the use of "inspection codes" to eliminate redundant and overlapping inspections, thereby reducing the frequency of enterprise-related administrative inspections while improving their quality, and ensuring that enterprises are not unduly disturbed.

A credit evaluation system will be established to categorize companies based on risk, reducing inspection frequency for those with higher credit ratings.

In addition, Shanghai will combat malicious trademark infringement and litigation, and crack down on infringing acts including brand imitation and unfair association with established brands.

To streamline market exits, the city will build efficient and standardized channels through cross-departmental information sharing and collaboration.

The system for managing bankruptcies will be improved, allowing for more online processing.

Source: Shanghai Municipal Administration for Market Regulation