Digitalization empowers business environment in Chongqing

At the government affairs hall in Liangjiang New Area, Southwest China's Chongqing municipality, the 27-year-old He Bangyao was waiting in line for his new company. But unlike before, he didn't have to bring a pile of documents with him.

In fact, He had already submitted all his documents on Yukuaiban, an official application launched by the Chongqing government. He was soon informed that all submitted information had been approved, and all he needed to do was receive a business license and seal at the hall.

"It's so convenient. I was concerned about the complicated procedures I'd have to go through. I didn't expect it to be so quick and easy to register business," he said.

He was referring to the Yukuaiban app, which is available on computers and mobile phones and is one of leading apps in Chongqing for entrepreneurs to submit documents, making it easier for them to complete real-name authentication and electronic signature confirmation.

Yao Yao, an official from the Chongqing Municipal Market Supervision and Administration Bureau, said that with the help of block chain technology, the app can connect the information systems of social security, public security, tax affairs, and People's Bank of China, and forge a closed data loop for newly established businesses.

Many of China's unified information systems cannot share statistics with regional counterparts. That issue has now been solved by the data middle platform provided by block chain technology.

In an assessment by the World Bank on business environment, China ranked 27th in 2020, up from 151th in 2014.