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The ownership caps of the joint venture enterprises may be expanded to 55%
2014-December-3 Source: Newsgd.com
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On October 2, 2014, the Ministry of Industry and Information Technology make the Reply of the State Council on the Hongkong and Macao Service Providers in Guangdong Province to Provide Online Data Processing and Transaction Processing Business ( Guo Han [2014] No. 134) and agree Hongkong or Macao service provider in Guangdong Province who set up a joint venture to provide online data processing and transaction processing business (limited to operating electronic commerce website), may hold the maximum 55% share proportion of the joint venture. Other matters still execute in accordance with the Regulations on Management of Foreign-Funded Telecom Enterprise.

(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: Sunny
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