Supporting Policies for Foreign Investment

Authors: Home in Chengdu

2017-02-03

Office of Sichuan Provincial People's Government issued Eight Measures to Support Development of Foreign-invested Enterprises as early as August 2014, which provided foreign investors with preferential measures in eight aspects, namely delegation of approval and filing power to lower level, convenient customs clearance service, improvement of enterprises' competitive power, completion of the element guarantee mechanism for introduction of major projects, tax incentives, enterprise transformation, national treatment and service assurance (consult departments in charge of foreign-invested enterprise application on specific policies).
In 2015, Chengdu Municipal Administration for Industry and Commerce issued the Opinions of Chengdu Municipal Administration for Industry and Commerce on Promoting Development of Foreign-invested Enterprises, which further facilitated foreign investment.
1.Reform registered capital registration system for FIEs
Highlights:
  • To implement registered capital subscription registration system;
  • To relax restrictions on registered capital.
2.Relax the restrictions on registration of names of FIEs
Highlights:
  • To support FIEs in demonstrating their brand advantages;
  • To relax the restrictions on registration of enterprise names which don't contain words or expressions of the classifications of national economic sectors.
3. Encourage innovation of foreign investment methods
Highlights:
  • To support domestic residents in direct domestic investment directly or indirectly through companies engaged in overseas equity financing or investment;
  • To support FIEs in capital increase with creditor's rights as overseas creditors;
  • To support FIEs in increase of registered capital through additional paid-in capital, surplus reserve and undistributed profits; to support foreign investors in reinvestment with monetary capital obtained from liquidation of their enterprises in the Chinese mainland, equity transfer, recovery of investment ahead of time and decrease of capital;
  • To support foreign investors in acquisition of domestic enterprises, whose individual shareholders may retain their shareholder status.
4. Promote the registration system of "license first and operating permit second"
Highlight:
For registration of FIEs, the registration system of "license first and operating permit second" will be unanimously implemented for industry permits except for prior approval items of industrial and commercial registration that the State Council decides to retain.
Note: The system of license first and operating permit second refers to such system in which FIEs will apply for business licenses before applying for related operating permits.
5. Relax restrictions on registration of enterprise domiciles (places of business)
Highlights:
Places of business and domiciles of FIEs may be registered separately. Two or more enterprises are allowed to register at the same address and one company to set up branches while getting registered just once.
6. Symplify documents required for registration of FIEs
Highlights:
  • To implement mutual recognition of subject qualification information of foreign (overseas) investors;
  • To simplify the procedures of cancellation of registration for FIEs.
7. Establish and perfect the credit constraint mechanism for FIEs
Highlights:
  • To cancel the system of annual inspection of enterprises and implement enterprise annual report announcement system;
  • To establish and implement administration of list of enterprises with uncustomary operations and the market subject information disclosure inspection system, to further promote management and application of "black lists";
  • To actively strive to obtain individual authorization for registration of FIEs;
  • To promote electronic business license and whole-course on-line registration;
  • To authorize grass-root administrations for industry and commerce to accept FIEs registration applications.
For more information, please contact Chengdu Municipal Investment Promotion Commission.
Add: 5/F-6/F, Building 3, 68 Shujin Road, Tianfu Avenue, Chengdu, Sichuan Province
Tel: 028-61885500
Website: www.chengduinvest.gov.cn
Government Departments Concerning Foreign Affairs
●Chengdu Administration for Industry and Commerce
Add: 6 Zhimin Road East, Chengdu
Tel: 028-86917516,
Web: www.cdgs.gov.cn
●Chengdu Investment Promotion Commission
Add: 5-6F, Building C, 68 Shujin Road, Tianfu Avenue, Chengdu
Tel: 028-61885500
Web: www.chengduinvest.gov.cn
●Chengdu Customs
Add: 66 Mid Tianshun Street, Chengdu
Tel: 028-85391114
Web: chengdu. customs.gov.cn/publish/ portal130
  • To relax restrictions on registered capital.

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