The National
People's Congress approved, effective 1st October, amendments to the
various laws on foreign invested enterprises (FIEs – i.e. WFOEs and JVs),
essentially rolling out nationwide the experimental rules already applicable
within free trade zones (Shanghai, Guangdong, Tianjin and Fujian).
These will affect, inter alia, incorporations of
FIEs, changes to their capital structures, mergers and transfers, and will
require a simple record filing procedure.
This will mean significant changes
in relation to the establishment of foreign invested enterprises (FIEs) and the
structure thereof in China – it will not require the approval from the Ministry
of Commerce (MOFCOM) or its local branches, as long as the business undertaken is
not on a "negative list".
MOFCOM has simultaneously issued
draft record filing procedures for public comment.
The “Negative List”, however, has not yet been issued. (It is
likely to be the same as the list used in the free trade zones.)***
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Need more information?
Please contact:
John Barclay -Email
Teresa Tam - Email
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