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Notice on Registration of Foreign-Funded Enterprises


 (No. 247 [2019] of the State Administration for Market Regulation)

Notice by the State Administration for Market Regulation of Effectively Completing the Registration of Foreign-Funded Enterprises for the Implementation of the Foreign Investment Law


The market regulatory administrations (departments and commissions) of all provinces, autonomous regions, municipalities directly under the Central Government, and Xinjiang Production and Construction Corps:

 

The Foreign Investment Law of the People's Republic of China (hereinafter referred to as the “Foreign Investment Law”) and the Regulation for Implementing the Foreign Investment Law of the People's Republic of China (hereinafter referred to as the “Regulation for Implementing the Foreign Investment Law”) will come into force on January 1, 2020. For purposes of implementing the provisions of the Foreign Investment Law and the Regulation for Implementing the Foreign Investment Law and implementing the pre-access national treatment plus negative list administration system for foreign investment, you are hereby notified of matters concerning effectively completing the registration of foreign-funded enterprises in accordance with the law as follows:

I. Standardizing the procedures for registration of foreign-funded enterprises

(1) Standardizing the application procedures. An applicant shall apply for registration of a foreign-funded enterprise through the enterprise registration system. An investor applying for the formation or modification registration of a foreign-funded enterprise shall make a commitment to its fulfillment of the requirements of the Special Administrative Measures (Negative List) for the Access of Foreign Investment (hereinafter referred to as the “Negative List”), and truthfully tick the sector involved in the Negative List in light of actual circumstances. Where, as required by any law or administrative regulation, an enterprise's formation or modification registration or deregistration requires the licensing of the competent authority of the sector, the enterprise shall submit the relevant approval document to the registration authority.

(2) Standardizing the examination procedures. The registration authorities shall conduct formal examination of the relevant application materials. Where a foreign investor or foreign-funded enterprise invests in any field outside of the Negative List, the registration shall be conducted under the principle of equal treatment to domestic and foreign investment. Where a foreign investor or foreign-funded enterprise's investment in any field subject to restrictions on the proportion of contribution, the nationality of the legal representative (primary person in charge) and other aspects as prescribed in the Negative List meets the conditions set forth in special administrative measures for access, the registration shall be conducted in accordance with the law. Where the competent authority of the sector has approved the relevant enterprise-related business licensing items before the handling of registration matters, the registration authority is not required to re-examine whether the conditions set forth in special administrative measures for access are met. Where a foreign investor or foreign-funded enterprise invests in any field which is prohibited by the Negative Listfrom investment, no registration shall be conducted. The registration authority shall push the registration information to the provincial sharing platforms (provincial credit information sharing and exchange platforms, government affairs information platforms, inter-department data interfaces, etc.) to realize the interconnection and sharing of information with relevant government functional departments.

II. Implementation of the foreign investment information reporting system

(3) Cooperating with commerce departments in the implementation of the foreign investment information reporting system. Beginning on January 1, 2020, “one-stop services” for the business recordation of formation and industrial and commercial registration of foreign-funded enterprises shall no longer be provided. When applying for the formation or modification registration of a foreign-funded enterprise, an applicant shall complete the initial report and modification report of foreign investment. The submission of a foreign investment information report is not an essential condition for the registration of a foreign-funded enterprise. A registration authority shall no longer conduct a review of any foreign investment information report. An applicant may continue to complete the foreign investment information report information after filing an application for business registration. Foreign investors or foreign-funded enterprises shall submit annual reports “integrating multiple reports into one” through the national enterprise credit information publicity system. Local market regulatory departments shall protect the trade secrets and investment information of foreign investors and foreign-funded enterprises to which they have access in the registration process according to the law.

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