China supports new businesses by removing minimum capital requirements

(MENAFN) New companies in China now can register for their launch without minimum capital requirements after the government started offering new facilities by removing the requirements, according to Qatar News Agency. The government took the step to improve the country's business and economy, especially the private sector. The reforms were announced at an executive meeting of the State Council led by Premier Li Keqiang. Li Keqiang commented: "By widening the market access and establishing a transparent and efficient modern company registration system, we aim to further streamline government administration, create fair competition and support smaller businesses, especially innovative enterprises."