ABSTRACT
This paper takes the reform of local commercial system as the basic point, combines the economic data of various provinces and cities in China, adopts the double difference method, and comprehensively inspects the influence of the commercial system reform on the development of the company. The research shows that the establishment of the commercial system reform has significantly improved the level of development of the company, and after a series of robustness tests, the conclusion is still valid; however, the policy effect varies greatly with the regional distribution. Specifically, the net effect of reforming the commercial system in the western region is higher than that in the central region. The net effect of reforming the commercial system in the central region is higher than that in the eastern region, that is, there are more obvious regional differences. From the perspective of the impact mechanism, the reform of the commercial system has reduced the enterprise’s transaction costs, simplified the links of the commercial system, promoted the growth of the number of enterprises above designated size, and promoted the development of the enterprise. The research results of this paper show that China should continue to deepen the reform of the commercial system, optimize the commercial approval environment, increase support for the reform of the central and western regions, promote the collaborative cooperation of the commercial examination and approval departments, reduce the institutional transaction costs, and stimulate market vitality.