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China Streamlines Enterprise Deregistration Procedures

A series of new measures aimed at simplifying the deregistration of businesses is to be introduced by the State Administration for Market Regulation.

With the new regulations set to come into force on 1 March, the key changes are as follows:

  • The Establishment of a One-stop Online service for Enterprise Deregistration
    This will see the launch of a dedicated “deregistration” service on the integrated e-government platform by 1 September 2019, allowing all of the relevant government departments to share information and provide coordinated feedback on the deregistration process
  • Reforming the Enterprise Deregistration System
    This will include revisions to the Regulations on the Administration of Company Registration and other administrative requirements and ancillary provisions, as well as improvements to the standard deregistration system. Additionally, it will no longer be necessary to file details of the liquidation process with the company registration authority, with open access to liquidation data set to be available via the national enterprise credit information public disclosure system
  • Changes to Tax Deregistration Procedures
    In order to expedite any deregistration-related tax settlements, tax departments are to permit exemptions from certain tax clearance formalities. Accordingly, the taxpayers in question may apply directly to the market regulation administration department for simplified deregistration and will not have to compete tax clearance formalities with the relevant tax authority. This only applies, however, if they have never handled tax matters or have handled tax matters but are not yet in receipt of any tax invoices and have no overdue taxes / fines
  • Optimising Other Related Procedures
    This will see the procedures relating to cancelling social security arrangements, commercial commitments, customs obligations and other regulatory matters simplified and streamlined in order to lower deregistration costs

For further details (in Chinese), please access the following link:

Circular on Facilitation of Enterprise Deregistration (Guo Shi Jian Zhu No. 30 [2019])

Content provided by Picture: HKTDC Research
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