Date
11 December 2017

Business license threshold lowered in Shanghai FTZ, govt says

China will cancel the requirements of minimum registered capital for limited liability companies (LLCs), LLCs with a single member and companies limited by shares in the Shanghai free trade zone (FTZ), the State Administration for Industry and Commerce (SAIC) said in a statement on its website late Monday. The move forms part of the government’s efforts to reform the business registration system and provide a better business environment for the players, it said. The annual inspection system for firms will be replaced by an annual report disclosure scheme inside the FTZ, among other adjustments.

– Contact HKEJ at [email protected]

MY/AC/RC

 

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