Shanghai's new Mayor Ying Yong on Friday pledged to further cut red tape.

Ying told a press conference at the closing of the fifth session of the 14th Shanghai Municipal People's Congress, the local legislature, that Shanghai will expand a pilot program that separates business licenses from administrative permits.

Ying was elected mayor at this congressional session. He previously served as Shanghai's executive vice mayor.

Ying said a total of 70 administrative approval items will be either simplified or eliminated this year, on top of 116 items streamlined last year.

As part of the program, companies will be able to get their businesses up running without first obtaining administrative permits.

Businesses often complained of drawn-out procedures in applying for permits.

Ying said separating business licenses from administrative permits illustrates Shanghai's commitment to streamlining administrative approvals and delegating power. The measure is meant to lower the cost of doing businesses in Shanghai.

He said Shanghai would work on further separating intermediate agencies, business councils, and trade associations from the government. Government departments' affiliated businesses will be separated as well.

Ying also said financial and institutional reforms carried out in Shanghai's Free-Trade Zone (FTZ) will continue in a prudent manner.

In 2015, it was announced that 40 financial reforms would be tested in the FTZ. The goals include the liberalization of the capital account, expanding cross-border use of the yuan, continuing the opening-up of the financial service industry and accelerating construction of an international financial market.

Last year, Shanghai Insurance Exchange was launched in the FTZ.  

Email: lansuying@nbd.com.cn