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The measures on the Administration of Foreign Investment Record of FTZ (for Trial Implementation) Released

2015-May-5       Source: Newsgd.com

On April 8th, the Ministry of Commerce released the Measures on the Administration of Foreign Investment of Free Trade Zone (for Trial Implementation) (hereinafter referred to as the "Measures") which will be implemented after 30 days from the date of issuance.

On April 8th, the Ministry of Commerce released the Measures on the Administration of Foreign Investment of Free Trade Zone (for Trial Implementation) (hereinafter referred to as the "Measures") which will be implemented after 30 days from the date of issuance. There are 20 clauses in the Measure which provides for the filing scope, filing agency, filing procedures, information report, supervision and inspection, integrity management and etc. To compare with the Management Measure on Chinese (Shanghai) Foreign Investment Enterprises Record of Free Trade Test Zone released in September, 2013 by the Shanghai Municipal People's government, the following aspects are improved in the Measure:

One is that the record of foreign-invested enterprises contract and articles of association is not as a precondition of enterprises registration.

Two is the introduction of information reporting system, that is, all foreign investment enterprises shall perform the obligations of the annual report in the free zone.

Three is to refine the foreign investment supervision and inspection requirements and specify the inspection authority, way, content, and penalties measures.

Four is to establish the foreign investment credit file system and realize the sharing of credit and record information in different department. (Source: Ministry of commerce)

(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: Keane

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