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Market entities have increased dramatically in the Liangjiang New Area in 2014, with 8,600 new market entities entering the area, a growth of 81.26 percent on 2013. The newly entered new market entities brought a combined domestic registered capital of 95.8 billion yuan ($15.3 billion) and a foreign registered capital of $1.79 billion.

The implementation of the innovative "one-step declaration form" has saved startups a lot of effort since its establishment last July. Only one application form needs to be submitted in order to obtain a business license, corporate seal, organization code certificate and tax registration certificate.

Additionally, the Liangjiang New Area has improved its market supervision system through the consolidation of the different departments of Liangjiang and the north new district, including the industrial commercial bureau, quality supervision bureau, and food and drug supervision bureau. After the consolidation of the departments, only one third of the institutions and 84 percent of the former official staff members stayed and 60 percent of the staff members were sent to the enforcement team at basic level. New reforms in Liangjiang have strengthened cooperation with Beibei district in establishing administrative and public security offices to promote law enforcement and judicial work in the fields of environment and social safety.

In 2015, the Liangjiang New Area will continue to construct checking and approving procedures through both online and offline channels. An international 'standard commercial environment' will be created to attract domestic and foreign companies.

Edited by Jacob Hooson