• Q&A AT ROUND-TABLE CONFERENCE

 

    It is expected to promote and solve the problem of market access for personalized and customized cosmetics.

    Cosmetic customization falls in the scope of production. Standards for production enterprises shall be formulated at the national level, with the license issued by Shanghai. Currently, the National Medical Products Administration will simplify the standards for issuance of license and select several enterprises in specific regions (such as Pudong and Fengxian) for pilot promotion.

    Publish Date:2019-11-01
    Is there a requirement that a foreign-invested company must have the registered capital of at least USD 30 million?

    With regard to the registered capital of investment companies, Decree No.2 of the Ministry of Commerce in 2015 has abolished the requirement on minimum registered capital.

    Publish Date:2019-11-01
    It is expected to apply for self-owned cargo handling license for foreign cargo ground service.

    The self-owned cargo handling service license must be recognized by CAAC East China Regional Administration as hub.

    Publish Date:2019-11-01
    Can a foreign film and television production company be set up on a pilot basis?

    Chinese enterprises are allowed to shoot films with foreign enterprises upon approval even though it is prohibited to invest in film production companies, distribution companies, cinema companies and film import businesses.

    Publish Date:2019-11-01
    Complicated procedures for the establishment of an enterprise. Thanks to the "one-stop online handling" reform, the time to apply for a license for a store in Shanghai is reduced for 90 days to less than 45 days. However, offline competent departments require the company's legal person signing a great deal of documents despite of simplified online application processes. To start a retail store, its legal person needs to sign even more than 20 documents.

    The company is allowed to issue authorization documents at one time, replace the legal representative's autograph with a signature stamp, and leave a copy of the signature stamp at the bottom. It also specifies that the documents and materials for the establishment of branches shall also be signed with a signature stamp. In the future, all the branches to be founded need to provide a copy of the ID card with the official seal and confirm that it is consistent with the original as long as the original copy of the principal's ID card is presented when the first branch is founded. This measure will be incorporated into the optimized business environment version 2.0 to be launched in 2019.

    Publish Date:2019-11-01
    Is there a requirement on minimum registered capital of foreign-invested energy company?

    There is no requirement on minimum registered capital of foreign-invested energy company.

    Publish Date:2019-11-01
    It is expected to set up securities companies holding more than 51% or 100% of the shares.

    The Administrative Measures for Foreign-invested Securities Companies issued by the China Securities Regulatory Commission in April 2018 clearly stipulates that foreign-funded enterprises may initiate the establishment of securities companies holding no more than 51% of shares. In July 2018, Shanghai released the "Extended 100 Articles" Action Plan, explicitly supporting foreign-funded institutions to initiate the establishment of securities companies with foreign companies holding 51% of shares.

    Publish Date:2019-11-01
    It is expected to be engaged in transshipment after re-assembly or direct transshipment on apron of international transshipped cargoes.

    According to the Measures of Shanghai Customs on Supervision of International Transshipment by Air (Trial) (Shanghai Customs Announcement No.4 in 2002), application of the same transshipment mode for master waybill at the port of entry and exit is explicitly supported.

    Publish Date:2019-11-01
    It is expected to apply for qualification of custody of security fund businesses.

    According to the Measures for the Administration of Securities Investment Fund Custody Business and other regulations issued by China Securities Regulatory Commission, foreign banks now are free to apply for qualification of securities investment fund custody.

    Publish Date:2019-11-01
    It is expected to further relax market access for foreign investors and improve policy transparency.

    The Special Administrative Measures (Negative List) for the Access of Foreign Investment (2019 version) and Special Administrative Measures (Negative List) for the Access of Foreign Investment in Pilot Free Trade Zones have been issued, further easing the market access for foreign investors.

    Publish Date:2019-11-01
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