The Pingtan Comprehensive Pilot Zone (PCPZ) has witnessed a soaring number of entrepreneurs since it relaxed the procedures for business license applications.

The administrative committee of PCPZ on Feb 28 announced a modified catalogue of business items for which a company must obtain a permit before applying for a general business license. The number of those items was cut from more than 200 to only 15.

The move has stirred up strong reverberations among entrepreneurs and self-employed businessmen who are eager to make investments in Pingtan.

Figures from the local industrial and commercial bureau showed that 176 market players obtained business licenses in March, a year-on-year increase of 175 percent. The most popular businesses are wholesale and retail, leasing and commercial service, architecture, information transmission, software and information technology, and scientific research.

The bureau said it received more than 140 business license applications since March, double the volume of previous months, and any new company will have to make an appointment due to the rush.

A company boss surnamed Zhang told Pingtan Times that he decided to open a micro bonding company in Pingtan, the only place in China that requires no special business permit before issuing a business license. He believed that more non-bank financial companies like his will test the waters in Pingtan.

Since the reform of business registration in early December, Pingtan has issued 2,171 business licenses. A total of 1,327 market players have sprung up, a growth of 87.43 percent year-on-year. Among them, 533 are enterprises and 781 are self-employed businessmen, an increase of 96.68 percent and 81.69 percent, respectively, the bureau said.