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FTZ issues all-in-one license to local companies
- Posted by: BusinessesChina.com
- Category: Free Trade Zone
Huang Xiaolu, director of the Shanghai Bureau of Quality and Technical Supervision, issued an all-in-one license, the first in Shanghai Pilot Free Trade Zone, to a senior executive of Sinopec Shanghai Gaoqiao Petrochemicals Co Ltd on Tuesday.
Last month, the General Administration of Quality Supervision, Inspection and Quarantine authorized Shanghai Pilot Free Trade Zone to combine licenses from different departments into one.
Previously, open a trading company needed to apply for a permit for every new product. Now, the FTZ authorities can review a company’s manufacturing facilities and all its products just once before granting the all-in-one license. They can also decide whether to exempt a company from license renewal inspection according to its quality record.
The new practice will save companies both time and application costs, officials said.
Last year, the bureau shortened license approval time from 60 days to 30 days by cutting out redundant procedures. This saved enterprises more than 1 million yuan (US$145,600) in license costs.