Beijing, On September 3, the 22nd Conference of the 12th Standing Committee of the National People’s Congress examined and adopted the Decision on Modifying Four Laws Such as the Law on Foreign-funded Enterprises of the People’s Republic of China hereinafter referred as the Decision which would not involve the establishment and alteration of the foreign-invested enterprises which must take the country’s special management measures. The approval changed to filing management. In order to implement the requirements of the Decision, approved by the State Council, the National Development and Reform Commission and the Ministry of Commerce issued the No.22 Announcement of 2016 on October 8, defining that the scale of the special management measures of the foreign investment would be implemented according to the limited and banned regulations of the Catalogue for Guidance of Foreign Investment (2015 Revised), and encouraged regulations with stock rights and senior management. These that refer to the establishment of foreign acquisitions and alteration will be implemented according to the existing relevant regulations. Efforts will be made to promote the reform of foreign-invested enterprises to set up filing management as well as to support the relevant implementation measures. These will benefit the improving of the investment facilitation and the optimizing of the environment business.
At the same time, the National Development and Reform Commission will conduct the revision work of the Catalogue for Guidance of Foreign Investment Property with the departments such as the MOFCOM. The opening policy will be further continued in order to cultivate a more open and transparent investment environment.