Tag Archives: Approval

APPROVAL CHANGED TO FILING FOR THE RECORD
Oct. 2016

The Standing Committee of the National People’s Congress abolished the approval requirement for foreign projects in China (FIEs, including wholly foreign-owned enterprises and joint ventures) in September.  No longer do such projects have to undergo the time-consuming and sometiems costly approval process, unless they fall within a negative list (discussed below).  Projects not on the negative list need only make a simplified record filing through an online system no later than 30 days after issuance of the Business License.. Continue reading

REFORMING COMPANY REGISTRATION
Oct. 2013 to Jan. 2014 China Bulletin

At an executive meeting of the State Council on October 25, China’s Premier, Li Keqiang, announced far reaching reforms of China’s company registration system to eliminate minimum capital requirements and mandatory time limits for capital contributions when registering a company, substitute an annual reporting for the current annual inspection system, share registration information through and enterprise credit system, implement electronic business licenses, and offer greater flexibility for company addresses used for registration purposes.  In principle, the reforms also apply to foreign invested enterprises (FIEs), but the higher minimum capital requirements, not formalized in law in most locations, could still apply. Continue reading