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LNA supervises market via big data

Updated: 2018-01-09

LNA supervises market via big data

The center for government affairs in Chongqing's Liangjiang New Area [Photo/]

Liangjiang New Area's market supervision bureau has developed a big data platform that will assist them with the overseeing and management of local markets. The platform contains more than 400 supervision indexes and will replace the old model of hands-on inspection.

The comprehensive platform consists of seven parts, including complaints and reports, market player classified supervision, and emergency command.

Technologies such as big data and cloud computing are used to create a database which keeps track of market trends, prevents risk, and allows for overall greater effectiveness in market supervision.

Data for over 63,000 local private businesses has been integrated into the platform, with a current registered capital of 821.71 billion yuan ($126.63 billion), and that number is increasing at a rate of 14.11 percent every year. The net growth rate in terms of the number of market players ranks first in the city.

The bureau has also set up an express channel for company registration, reducing the processing time by 90 percent from 20 days to 2 days.

"Overall business environment is important for productivity. We can't just improve work efficiency, we also need to encourage companies by streamlining administration and getting rid of red tape," said Xiang Qiuwei, manager of the bureau's division of market supervision and management.

The bureau has already got rid of 4,157 "zombie companies" and shell companies, as well as 1,259 investment companies. As of now, the bureau has integrated its services into a total of five areas - administrative approval, market supervision, quality supervision, protection of consumers' rights, and administrative law enforcement.

Cross-departmental integration such as this is rare in China and the first of its kind in Chongqing and the greater western region.


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