Beijing loosens market access for foreign investment

Beijing loosens market access for foreign investment

北京放宽外商投资市场准入条件

The Beijing Administration for Industry and Commerce recently published the “Proposals on Further Serving the Development of Foreign-invested Enterprises”,which have provided concrete measures to support and encourage the development of foreigninvested enterprises from 17 aspects including market access, annual examination and supervision and management.

In terms of market access for foreign-invested enterprises,the city will support investors of foreigninvested enterprises to use their creditors'right over the enterprises to increase the registered capital;relax the conditions for name registration.For sole foreign capital enterprises and foreign-invested enterprises share controlled by foreign investors that use the trade name of foreign capital contributing enterprises,they may use in their names the character of “China”as long as they have registered capital reaching RMB30 million and engage in modern service and hig h-tech industry.Meanwhile,Beijing will attract multinational companies to open functional institutions and encourage foreign investors to invest in service outsourcing industry.

In its annual examination of foreign invested enterprises,the city will go on improving the online annual examination system,decrease the business costs of enterprises in practical term,and open special annual examination passage to foreigninvested enterprises including the regional headquarters of multinational companies,groups and branches,help foreign-invested enterprises that are in operation difficulties for the time being,and allow foreign-invested enterprises that have not started business yet or have suspended business indeoendently to pass annual examination after declaring closing of business.

As for optimiation of investment environment,first,the city will offer quality access service for implementation of key foreign-invested projects and M&A and reorganization of large and key enterprises;second,the city will strictly observe the State industrial policy for utilization of foreign capital;third,it will actively help ease the pressure of capital contribution by foreign-invested enterprises,and allow foreign-invested enterprises that have made first-stage investment and reached the legal lowest inmit for registered capital to prolong their term of capital contribution to the final time,limit;fourth,the city will allow eligible foreigninvested enterprises that cannot contribute capital according to the schedule due to temporary tight supply of capital to prolong the term of capital contribution to the final time limit after being approved by competent share trasfer,or registration cancellation procedures;fifth,the city will go on offering such services as pledge of stock rights,chattel mortgage,and pledge of trademark to widen the financing channels for foreign-invested enterprises.

Meanwhile,the city will strengthen its protection of trademark,actively guide foreign-invested enterprises to enhance the ability of trademark registration,operation,protection and management,and go on protecting the trademark of foreign-invested enterprises.