2020-09-25 17:21:04
Merger&Aquisition Newsletter
Further reduce restrictions on investment and operation of foreign-invested trade enterprises
2020-09-25 17:21:04

On July 21, the General Office of the State Council promulgated the Implementing Opinions on Further Optimizing the Business Environment to Better Serve Market Players (the " Market Opinions"), specifying that "the business environment of foreign-invested trade enterprises shall be optimized". Article 9 requires to "further reduce the restrictions on the investment and operation of foreign-funded trade enterprises". The specific measures include: (i) supporting foreign trade enterprises to sell their exported products domestically; (ii) promoting the replacement of relevant domestic certification with self-declaration by foreign trade enterprises; (iii) for products which have obtained relevant international certification and the certification standards are not lower than domestic standards, permitting foreign trade enterprises to directly market such products after making written commitments that they meet domestic standards, and strengthening interim and ex post regulation, and (iv) authorize all the cities at the prefecture level or above to carry out registration of foreign-invested enterprises.