Start a Business in China

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Start a business in China
It’s not an easy job to start a business; there are a lot of procedures you need to follow which will spend a lot of your time and money. But, in China, it’s harder. According to data collected by Doing Business, in China, starting a business there requires 14 procedures, takes 38 days, costs 3.5% of income per capita and requires paid-in minimum capital of 100.4% of income per capita. Globally, China stands at 151 in the ranking of 183 economies on the ease of starting a business. Just look at the procedure and time, US requires 6 procedures, takes 6 days; Australia requires 2 procedures, takes 2 days; Canada requires 1 procedures, takes 5 days, and so on. Why it’s so hard to start a business in China? It’s a very complicate question. We need to consider many aspects, including history, political institutions, economic system, and so on. I’m just a student; I can’t explain this question very accurately. But as a Chinese, I have some opinions. First of all, China had a 5,000 years history. Until 1949, when the People's Republic of China was founded, the feudal system was overthrown. However, because of some wrong decisions were made, from 1958 to 1976, China went through a catastrophe, which set back Chines economy for decades, even worse than late Qing Dynasty. In 1978, Xiaoping Deng, a great president in Chinese history, corrected the wrong decisions that were made, and established some new policies. Then Chinese economy really developed. As a developing country, the new economy system in China just has been established for 34 years, which means China still has a very long way to go. After going through several global economic crises, Chinese market economy is still running well, which shows that the market economy is growing and developing. Secondly, the legal system in China is not as perfect as in America. In China, if you want to start a business in an easier way, you have to know the “latent rules”. We can’t simply explain the...
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