Gaining Access to China's Foreign Trade Industry

March 31, 2003 | BY

clpstaff

Joint venture trading companies are now allowed on a wider scale. Trading companies can now be set up anywhere in China, the registered capital requirements and requirements for investors are less restrictive than in previous regulations, and the scope of business is wider.

By Sam Feng, Sinclair Roche & Temperley, Shanghai

On January 31 2003, China issued new regulations that aim to accelerate the development of the country's foreign trade sector by introducing greater foreign competition. The Establishment of Sino-foreign Trading Equity Joint Ventures Tentative Procedures (the Tentative Procedures) should create greater opportunities for foreign access to different aspects of China's trading sector.

The new Provisions are effective from March 2 2003, and replace the Establishment of Pilot Sino-foreign Foreign Trading Equity Joint Ventures, which were issued in 1996 (the 1996 Regulations).

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