Chinese individuals become shareholders of Pudong FIEs

In May 2010, the Pudong New District Branch of the Company Registry of Shanghai issued a business licence to Shanghai China-Green Environmental Protection Technology (上海中绿环保科技有限公司). This was the first China-foreign joint venture established by Chinese individuals in Shanghai, and marked a relaxation of the prohibition on the direct incorporation of foreign invested enterprises (the FIEs) by domestic residents in the PRC.