The Ministry of Commerce has issued a Notice on Further Improving the Work of Attracting Foreign Investment into the Logistics Sector. This is the first major liberalisation in the PRC logistics sector since 2002.
The new notice permits logistics enterprises with foreign investment to be established in the form of equity joint ventures, cooperative joint ventures as well as wholly foreign-owned enterprises. Such enterprises may now be established throughout China without any regional restrictions and shall no longer be subject to the minimum registered capital requirement under the original notice of 2002.
Articleflix.com reports further that the notice says that logistics enterprises with foreign investment may engage in international logistics and third party logistics. Generally, it is a loosening of the restriction all around and the hope is that the logistics industry will take a further step forward in becoming internationally competitive.
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