In accordance with the Foreign Investment Information Reporting Measures of the PRC, China foreign invested enterprises (FIEs) are required to report and disclose their ultimate actual controllers (also known as ultimate beneficiary) to the Ministry of Commerce of the PRC and local commerce bureaus under the penetration principle.
On 31 July 2020, China’s National Development and Reform Commission and the Ministry of Commerce on June 30 jointly seek public opinions on the Catalogue of Encouraged Industries for Foreign Investment (2020 Version). The deadline for feedback is 30 August 2020.Compared with the 2019 version, 125 items have been added and 76 items have been modified
China’s newly revised Special Administrative Measures on Access to Foreign Investment (2020 Version) (2020 National Negative List) and Free Trade Zone Special Administrative Measures on Access to Foreign Investment (2020 Version) (2020 FTZ Negative List) have taken effect on 23 July 2020. This is the fourth year in a row since 2017 that China has revised the negative list for foreign investment.
On 15 June 2020, the State Administration for Market Regulation of the PRC published the Regulations on the Registration and Administration of Commercial Entities of the PRC (Draft) (hereinafter referred to as the Draft Regulations) on its website to seek public comments. The Draft Regulations consist of six chapters and 102 articles, including general provisions
With the development of the Guangdong-Hong Kong-Macao Greater Bay Area, the number of ports between Guangdong province and Hong Kong increases a lot. The relevant government authorities of the two places have launched administration measures on the quotas for cross- boundary private cars accordingly.
China is now implementing a foreign investment administration model of Pre-establishment National Treatment plus Negative List in accordance with the Foreign Investment Law of the PRC.Pre-establishment National Treatment means foreign investors and investments are treated no less favourably than domestic investors and investments at the stage of investment entry.
One-person limited liability company as stipulated in the Company Law of the PRC refers to a limited liability company with only one natural person shareholder or legal person shareholder. Since there is only one shareholder in a one-person limited liability company, it is easy for the shareholder to abuse the independent status of corporate legal person and shareholder’s limited liability to evade debts.
A company may be dissolved under one of the following circumstances in accordance with Article 180 of the Company Law of the PRC: the term of business operation as prescribed by the bylaw expires or any of the situations for dissolution prescribed in the company's bylaw occurs;the shareholders' meeting or the shareholders' assembly decides to dissolve the company;
The "Implementation Measures on Further Promoting Registration Facilitation of Market Subject and Optimizing Business Environment” issued by Beijing Administration for Market Regulation, the registration authority, was officially implemented on April 28, 2020. The Implementation Measures has made the following breakthroughs in optimizing the business environment.
At present, the classification criteria of China's micro, small, medium and large enterprises include three indicators: business revenue, total assets and number of employees, and the classification criteria of different industries are also different. The classification criteria are as below: