Ministry of Commerce to Issue Guide Manual for Administration of Foreign Investment Entry
On December 23, 2008, the Ministry of Commerce ("MOC") released its 2008 version of the Guide Manual for Administration of Foreign Investment Entry (the "Guide Manual") in order to regulate the approval and registration processes conducted by the MOC, its local counterparts, and the local administrations for industry and commerce in approving and registering foreign investment projects. The Guide Manual provides detailed procedural requirements for the approval of foreign-invested companies limited by shares, and approves foreign-invested enterprises in certain special industries, including the commercial area (e.g. wholesale/retail), roadway transportation and urban planning services. The Guide Manual is an indication of the MOC's efforts to simplify the approval processes for foreign investment in certain industries.
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