The Trial Measures for Confirmation of Registration of Market Entities in the China (Tianjin) Pilot Free Trade Zone has recently been agreed and issued by the Municipal People's Government. As a new initiative of our city to respect the autonomy of enterprise registration, from May 1, the China (Tianjin) Pilot Free Trade Zone will implement the confirmation system of enterprise registration on a trial basis, and the access of all kinds of newly established market entities will be changed from an administrative license to a confirmation system.

According to the Trial Measures, since May 1, the establishment, change and cancellation of registration of various new market entities in the pilot free trade zone will be confirmed and registered by the Market Supervision Administration of the Pilot Free Trade Zone after a formal examination of the application materials and if the materials are considered to be complete and in legal form, and will be publicized through the national enterprise credit information public system and the credit information public system of market entities in Tianjin.

The Trial Measures follow the principles of procedural standard, openness and fairness, entity autonomy, independent declaration and convenience and efficiency, and promotes online registration. Electronic certificates, electronic seals, electronic signatures and electronic files that meet the legal form and content requirements have the same legal effect as paper certificates, physical seals, handwritten signatures or stamps and paper files, and can be used as part of the application materials, and applicants are exempted from submitting relevant information or documents that can be obtained or verified through the government information-sharing platform.

The Trial Measures respect the autonomy of market entities, adjusts the existing filing matters of various market entities to that market entities disclose on their own, and clarifies that market entities should disclose the filing information on their own within 5 days after the registration. This not only respects the registration autonomy of market entities but also regulates the disclosure obligations of market entities. The implementation of the confirmation registration system will make the registration of market entities more simple, efficient and convenient, which is conducive to enhancing sense of contentment of market entities and further optimizing the business environment.