China repeals foreign investment approval nationwide for industries outside the negative list
9 septembre 2016
Client Alert | China | Foreign Investment
On 3 September 2016, the Standing Committee of China’s National People’s Congress issued the Decision on Revising the PRC Wholly Foreign-Owned Enterprise Law and Three Other Laws (全国人民代表大会常务委员会关于修改《中华人民共和国外资企业法》等四部法律的决定, the “Decision”), which revises the four main laws regulating foreign investors doing business in China.
The Decision brings a major change to the regulation of foreign investment into China: it fully replaces the traditional company establishment process - which required MOFCOM approval followed by registration with AIC - with what is expected to be a simpler and faster filing procedure.
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