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SAIC Considers Delegating Foreign Company Registration Authority

China’s State Administration for Industry and Commerce (SAIC) has been seeking opinions on proposed amendments (draft for comments) of a number of business registration rules for foreign companies with operations in China.

Proposal to amend Article 2 of SAIC’s Administrative Measures for the Registration of Enterprises of Foreign Countries (Regions) Engaged in Production and Business Activities in China was included in the draft for comments issued on 29 March.

The effect is to delegate registration of foreign enterprises from the SAIC to the provincial level administration for industry and commerce.

The draft for comments proposed to repeal 10 departmental rules and amend selected clauses in four departmental rules. SAIC said that the proposed delegation of business registration of foreign enterprises in China aims to streamline administration and delegate power, improve service, as well as further stimulate the vitality of the market, enabling the implementation of  policy measures aiming at steady growth, promoting reform, structural adjustment and bringing benefits to people's livelihood.

On 21 March, Chinese Premier Li Keqiang told an audience of foreign representatives attending the annual meeting of the China Development Forum 2016 that China will continue to expand opening up and welcome foreign investment and business operation in China. He also affirmed that enterprises with business registration in China, domestic or foreign, wholly-owned or joint venture, will enjoy equal treatment and a fair competitive environment.

The deadline for submission of comments was 5 April 2016.

For details of the draft for comments in Chinese, please see:

http://www.saic.gov.cn/zwgk/zyfb/qt/fgs/201603/t20160329_167623.html

Content provided by Picture: HKTDC Research
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