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China will streamline its foreign business registration by implementing the "One Window, One Form" (单一窗口、单一表格) policy, according to the notice jointly released by the Ministry of Commerce of the PRC ("MOFCOM") and the Sate Administration for Industry and Commerce ("SAIC") on 28 February 2018. This new policy is expected to be implemented from 30 June 2018 on a nationwide basis.
Currently, foreign-funded enterprises have to prepare two sets of documents and go through procedures with MOFCOM and SAIC separately for registration and filing, and some of the filing items are duplicate. Under the reform of cutting through the red tape in China, the foreign enterprises investing into industries which are not subject to special administrative measures are able to submit "one form" to one single government department for registration after 30 June 2018. At the same time, the data exchange and information sharing between different government authorities will be strengthened. "One Window, One Form" policy streamlines the registration process and reduces enterprises' time costs, but foreign-funded enterprise should also be aware that the strengthened data exchange and information sharing between different government bureaus also demands the enterprises’ more care with regulatory compliance.
Please note that whilst the information in this Update is correct to the best of our knowledge and belief at the time of writing, it is only
intended to provide a general guide to the subject matter and should not be treated as a substitute for specific professional advice.
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