All fees incurred in the process of business registration, including engraving seals and purchasing tax-control disks, in Daishan county, Zhoushan are now covered by local authorities. 

The policy, which took effect on June 1, comes as part of the local government's efforts to slash financial burdens on local enterprises and optimize business climate.

Daishan is the first place in Zhoushan to implement a cost-free business registration process. 

An employee surnamed Ke from Sanke Precision Machinery (ZheJiang) Co Ltd recently acquired a business license, four seals and a tax-control disk. Tax-control disks are a form of hardware commonly used for the recording and transmission of tax data between companies and the tax bureau. 

He revealed that the new policy saved them roughly 1,000 yuan ($144.9). It is expected to save more than 250,000 yuan for new businesses in Daishan throughout the year. So far, 52 enterprises have benefited from the policy. 

Market entities including newly established companies, non-corporate legal persons, individual businesses, foreign-invested enterprises, joint-ventured companies, specialized farmer cooperatives, and their branches are all eligible to benefit from the reform. 

Starting this year, the time required for business registration in the county has been cut from two days to four hours.

It only takes two hours for enterprises to acquire business licenses and other related documents after applications are submitted on a designated online platform. A free delivery service is also available for companies.