Foreign investment benefited from the removal of administrative approval
2012-November-12 Source: Newsgd.com
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On July 17, 2012, Guangdong provincial government held a television conference, discussing the reform of administrative approval system and implementation of the central government's plan. The provincial government expressed determination to implement the Opinion on Accelerating the Change of Official Functions and Furthering the Reform of Administrative Approval System and 2012 Initial Catalogue of the Reform of Administrative Approval System ("Catalogue"). The reform will be carried out through cities and towns.

Many projects which are relieved with administrative approval involve foreign investment. For example, Article 61 of the Catalogue removes the approval where foreign residing organization hires Chinese employee, Article 78 specifies no approval is required for the startup of Road Transportation Company invested by foreigners, and Article 88 relieves the approval burden for foreign company when it wants to change name, investor and office address. It is advisable that foreigners interested in investment in China should pay attention to the relating laws and regulations.

(This information is provided by Lawyer Kelly Xie from Guangdong KaiTong Law Firm in friendship. It is not any legal opinion or legal grounds addressed to any organization or individual. For inquiry, please contact Kelly via email at Kelly_xie@ktlf.com.cn or by phone on 13926185641.)

Editor: Olivia
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