"Chinese people do not lack the passion and wisdom for innovation and entrepreneurship," Li said. "The key is to properly unleash their potential."
Measures to be introduced to further facilitate business registration in China include encouraging pilot measures to integrate more certificates into the current scheme to be taken in certain cities and regions for assessment before putting them into practice nationwide, and providing an online service covering the whole registration process.
Currently, 22 provinces and regions, including Beijing and Shanghai, have launched such trials.
The Friday meeting also called for greater efforts in on-time and in-time regulation with better information sharing and recognition among government departments.
A total of 488,000 new business licenses have been issued since Oct. 1. An online survey showed more than half of those surveyed gave positive comments on the business registration reform.
Data also showed new business registrations increased from about 12,000 per day in 2015 to 14,600 in the first eight months of 2016, compared to only 6,900 before the changes.
Premier Li also stressed the importance of proper supervision in carrying out the business registration reform, while warning against the disruptive examination of private enterprises.
Despite the fact that China faces mounting downward economic pressure, the employment rate is up. Li said that more than 10 million urban jobs have been created since January.
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