A Taiwan entrepreneur who received the first business license following a business registration reform in Pingtan in early December opened his clock and watch store in the Pingtan Comprehensive Pilot Zone on Jan 2 - one month after he registered the store in Pingtan.

The reform – which aims to simplify procedures for business registration - will be implemented around Fujian province in 2014, and the entrepreneur, Xue Qingde, said that it allowed him to benefit from many favorable policies for Taiwan entrepreneurs and to realize his dream of opening a store.

The local industrial and commercial bureau said it had received a total of 1,538 cases concerning business registration in December, and it approved 633 business licenses. More than 353 market players came in, an increase of 104 percent year on year.

Gao Zhuqing, deputy director of the registration office of the bureau, said that it is now much easier to register a company, and this was "definitely good news for startup entrepreneurs," as investment costs are reduced.

The new business registration methods expands business scope, allows subscribed capitals during registration and loosens restrictions of sites for business operation, which will lower the threshold of opening companies.

Edited by Chen Zhilin and Niva Whyman