Reform will help people set up their own businesses

China has removed the minimum capital requirements for registering a new company, among other reforms aimed at lowering the threshold for business startups and stimulating the private economy.

The minimum registered capital requirement of 30,000 yuan ($4,900) to start a limited liability company will be removed, as will the 100,000 yuan requirement for an individual company and the 5 million yuan requirement for an incorporated company.