In recent years the authorities have initiated, and continue to effect, changes to the foreign investment laws and regulations of mainland China.
Many years’ efforts have resulted in the replacement of the long standing MOFCOM approval regime with a new information reporting regime (the “New FI Regime”).Taking into account the changes brought about by the New FI Regime, the general regulatory requirements which apply to foreign investments into mainland China (subject to other transaction-specific requirements, such as those covered in the subsequent sections of this guide) are as follows: for the establishment of a new entity or making changes to an existing entity s corporate form, equity holding, directors, etc., foreign investors are required to file an application for registration with the local Administration for Market Regulation, which is the local bureau of the State Administration for Market Regulation (“SAMR”).
Submission of foreign investment information through the Enterprise Registration System and the National Enterprise Credit Information Publicity System. Foreign investment into the FTZs is regulated by the relevant authorities of respective FTZs in accordance with the FTZ Negative List and various FTZ administrative rules. These FTZ-specific
rules aim to provide more streamlined, convenient and efficient procedures and formalities for foreign investors.
Where a foreign investor wishes to set up a new enterprise in mainland China or to acquire an existing mainland Chinese enterprise, such FIEs can take the form of a limited liability company, foreign-invested company limited by shares (the “FICLS”), foreign invested partnership (the “FIP”) or branch office of non – mainland Chinese enterprise.
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