August 3 2018

State Council Scraps 11 Administrative Approvals

The State Council announced on August 3, 2018 the Decision to Cancel Some Administrative Approval Items. 11 such items have been scrapped under the decision. For six items that were established in accordance with laws and regulations, the State Council will submit them to the Standing Committee of the National People's Congress for amendment on the laws and regulations.

The canceled items include approvals on business registration for enterprise group, preliminary approval for overseas investment by domestic companies (Excluding financial institutions), registration for business subsidiaries, as well as the establishment, alteration and cancellation of foreign-funded companies' branches.