The government has issued its first batch of long-term residency permits, allowing 46 foreigners in Beijing to stay in China for up to five years. The permits are part of a new policy to attract foreigners with high-level professional skills. Until now, residency permits have been granted for a maximum of one year and had […]
Category: Law & Regulation
New rules concerning foreign investment in schools will be introduced on September 1, Xinhua reported. The rules were signed into law in March by Zhu Rongji, in one of his last acts as premier. China allowed majority foreign-owned joint venture schools immediately after it entered the World Trade Organisation. Under the new rules, joint venture […]
Plans by Infosys, India's number two software service exporter, to set up a centre in Shanghai have been delayed by red tape, Reuters reported. Although the plan had been agreed in principle when Premier Zhu Rongji visited India in January 2002, Narayana Murthy, chairman of Infosys, said that bureaucratic delays had held up progress on […]
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Expanded opportunities
A new measure due to be introduced this month provides fresh options to foreign investors that plan to merge with or acquire local enterprises. When it comes to investing in China, overseas companies have the option to establish a foreigninvestment enterprise (FIE), wholly foreign-owned enterprise (WFOE), equity joint venture or co-operative joint venture. From this […]
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New bankruptcy law in five years
A senior Chinese legislator has said that the process of enacting a new bankruptcy law could take up to five years, the Financial Times reported. The forecast was given by Cheng Siwei, a member of the National People's Congress standing committee and the principal architect of the legislation. Speaking at the World Economic Forum in […]