- info@kaizencpa.com
- Our Office: USA - Hong Kong - Shenzhen - Shanghai - Beijing - Taiwan - Singapore - Japan - UK
+852 2341 1444(Hong Kong)
Search for anything.
Knowledge
- Home
- Knowledge
- China
Key Points of the Latest Revision to Company Law of the PRC
Recently, the Company Law of the PRC has been revised and adopted at the 7th Session of the Standing Committee of the Fourteenth National People's Congress of the PRC. The revised Company Law of the PRC will come into force on 1 July 2024. The key points of the revision include:
How to Set up a Café in Beijing
First, investors need to lease café operating premises before starting the registration process. According to experience, the site selection should avoid the residential building area, and choose a place with water supply, power supply, ventilation, and smoke exhaust as sufficient as possible. In order to avoid being rejected when applying for business license or other special license
China ICP Filing Requirements for APP
On 4 August 2023, the Ministry of Industry and Information Technology of the PRC released a circular on the implementation of APP filings on its official website, which clarified that APP providers engaged in internet information services within the territory of the PRC shall complete the internet content provider (ICP) filing procedures in accordance with the relevant laws and regulations of the PRC.
Introduction of “Joint Handling of Certificates and Licenses” in Beijing
With the continuous optimization of the business environment in Beijing, it is more and more convenient for market entities to enter the market. Among them, the continuous promotion of the reform work of "Joint Handling of Certificates and Licenses" is indispensable.
Special Rules of Non-Compete in Shenzhen
As a special economic zone in China, Shenzhen has the legislative power over the Shenzhen Special Economic Zone. Therefore, there are some differences between the rules formulated and applied in Shenzhen and those applied nationwide in terms of legal provisions on non-compete. The main differences are as follows:
China Revises Administration of Foreign Invested Telecommunications Enterprises
Recently, the State Council of the PRC released a decree to announce the decision to revise 14 and abolish 6 sets of regulations. The Administration of Foreign Invested Telecommunications Enterprises has been revised accordingly, which will take effect on 1 May 2022. The key changes of the new Administration of Foreign Invested Telecommunications Enterprises are as follows
China Beijing FIE Capital Reduction
The new Company Law will be officially implemented on July 1, 2024, resulting in many enterprises starting to deal with capital reduction matters. Kaizen has summarized the following issues to pay attention to during the capital reduction process for clients' reference.
Annual Compliance Requirements for China FIEs
All foreign invested enterprises (FIEs) registered in China shall complete annual compliance procedures as required by laws and regulations of the PRC. It is crucial to be aware of the relevant deadlines as failure to complete these procedures on time may result in fines and penalties.
How to Repatriate Profits from China?
Foreign invested enterprises (FIEs) incorporated in China may repatriate profits from China when they have generated profits. However, China’s mainland maintains strict controls on foreign exchange. Repatriation of profits from China will be tightly regulated. Before profits repatriation, the FIE shall satisfy certain conditions and complete certain procedures, which are listed as follows.
China Introduction of Provisions on the Administration of Enterprise Name Registration
The State Council issued Decree No. 734 on January 19, 2021, amending and passing the "Provisions on the Administration of Enterprise Name Registration", which has implemented on March 1, 2021.The executive meeting of the State Council has made extensive revisions to the " Provisions on the Administration of Enterprise Name Registration", and the main revised clauses are now extracted for clients’ reference.