On April 29, the State Administration for Industry and Commerce (“SAIC”) issued Order  No. 86 to repeal and revise some of its existing regulations.
In particular, revision of the administrative measures for registration of enterprises from foreign countries and regions that engage in production and business transactions in Mainland China confirms that (i) the provincial-level administration for industry and commerce is the only competent authority for registration of these enterprises; (ii) the approval document is no longer required for registration of exploration and exploitation of onshore and offshore oil and other mineral resources, contracting onshore and offshore oil projects, foreign bank branches, contracting construction projects, operation and management of foreign-invested enterprises, i.e., registration is now sufficient for these types of businesses; and (iii) annual report publication obligations apply to these enterprises.
The revisions of the measures for registration of share pledges focus on removing the approval procedure of share pledges for foreign-invested enterprises, i.e., share pledges of foreign-invested enterprises are now subject only to registration with the competent administration for industry and commerce, and are subject to the same requirements as domestic enterprises.
Finally, the revision of the implementing rules on enterprise legal person registration administration eliminates operational offices set up by foreign invested enterprises (i.e., the specific type of representative offices of domestic enterprises with foreign investment, as opposed to representative offices set up by foreign enterprises) .
Date of issue: April 29, 2016. Effective Date: April 29, 2016