Beijing Municipality, Several Opinions on Further Serving the Development of Foreign-invested Enterprises
北京市关于进一步服务外商投资企业发展的若干意见
December 14, 2010 | BY
clpstaff &clp articles &Beijing Municipality relaxes enterprise name registration for FIEs.
Issued: August 22 2010
Main contents: Wholly foreign-owned enterprises and foreign-invested enterprises (FIEs) controlled by a foreign party that use the business name of an investor enterprise from a foreign country (region), have registered capital of at least Rmb30 million and are engaged in the modern service industry or high- and new- technology industry shall be permitted to use the word “China” in their names (Article 2). Multinational corporations (MNCs) that establish functional organisations such as regional headquarters, research and development centres, procurement centres, financial management centres, settlement centres or cost and profit audit centres, or foreign-invested service outsourcing enterprises shall be permitted to include wording in their enterprise names and business scopes that describe their functional characteristics (Article 3).
High-quality market entry services shall be provided for the start-up of major foreign investment projects, and for the merger, acquisition and re-organisation of large and key enterprises (Article 4). FIEs and foreign-invested groups, as well as regional headquarters of MNCs recognised by the relevant government departments, with a large number of branch offices may apply to have the annual inspection procedures for the enterprise and the branch offices carried out together directly with the municipal bureau (Article 11).
Where an FIE that has no record of violation of the law, has already paid the first instalment of capital contribution, and has reached the minimum requirement for statutory registered capital is unable to contribute capital according to schedule due to a temporary cash flow problem, the government shall allow it to extend the time limit for capital contribution to the maximum statutory time limit or allow it to carry out capital reduction, share transfer or de-registration (Article 13).
Related legislation: State Council, Several Opinions on Further Improving the Work on the Use of Foreign Investment, Apr 6 2010, CLP 2010 No.4 p.43; and Several Opinions on Fully Making Use of the Industry and Commerce Administrative Functions in Order to Better Serve the Development of Foreign-invested Enterprises, May 7 2010, CLP 2010 No.5 p.34
clp reference:2300/10.08.22/BJpromulgated:2010-08-22This premium content is reserved for
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