China recently announceda slew of new measures to atract and better use foreign investment.

Expand market access

Allow free trade zones such asBeijing, Shanghai and Guangdong to choose eligibleforeign enterprises to expand pilot projects in gene diagnosis and treatment technology development and application.

Support opening-up measuresin areas such as informationservices (limited to app stores) to be implemented in pilot free trade zones.

Enhance appeal for foreign investment

In revising national catalog, focus on encouraging foreign investment in manufacturing, promote integrated development of service and manufacturing sectors, and increase support for advanced manufacturing, modern services, high-tech, energy conservation and environmental protection.

In revising central and western regions' catalog,enhance support for basic manufacturing, applicable technologies, and consumption related topeople's livelihood.

Implement preferential tax policies for foreign investors in China's bond market.

Support eligible foreign enterprises to issue RMB bonds and use them for investment in China

Promote implementation of policies to facilitate cross-border trade and

investment foreign exchange management.

Optimize fair compefitionenvironment

Make good use of platforms such as foreign enterprise roundtables to deepen regular exchanges with foreign enterprises, foreign chambers of commerce and international organizations and respond to concerns.

Improve inter-departmental coordination mechanism for handling complaints from foreign enterprises at all levels, ease communication channels, and promptly learn and address issues and legitimate claims raised by foreign enterprises.

Facilitate flow ofinnovation factors

Extend visa period to two years for management and technological staff of foreign enterprises and their accompanying spouses and underage children.

Speed up renewal of more international flights in aviation hubs such as Bejing, Shanghai, and Guangzhou.

Foreigners working in China who have obtained work-related residence permits of more than one year, at least twice consecutively, foreign management and professional technical personnel working for well-known enterprises and research institutions, as well asmembers of scientific research and innovation teams, may apply for up to 5-year residence permits through exit and entry administrations of public security organs. Those who meet the requirements may be approved for permanent residence in China.

Allow foreign management and professional technical personnel working in China to relocate to other regions within their respective enterprises or institutions, or to pursue degrees or continue their education at domestic universities without reapplying for residence permits.

Support foreign enterprises, foreign R&D institutions and transnational companies set up in China to equally participate in key national R&D programs and major national science and technology projects.

Align domestic rules with high-standard international economic and trade rules

During a policy briefing in Beijing on March 20, the National Immigration Administration answered questions from reporters regarding initiatives aimed at facilitating the entry and residency of foreigners in China for work, study, investment, and entrepreneurship, as well as streamlined visa procedures for foreign business professionals and their families.

Since 2023, the administration has continuously refined policies and measures concerning the arrival of foreign individuals in China, resulting in several noteworthy developments:

1. Entry and exit policy

(1) Five-year multiple-entry visas for foreign business people

Foreign nationals engaged in trade cooperation, investment, entrepreneurship, and other business activities in China, with legitimate reasons for multiple entries, may now obtain multiple-entry visas valid for five years.

These visas can be extended, renewed, or reissued at convenient locations.

Following the implementation of these policies, the number of visa applications processed in China has seen a 150 percent year-on-year increase.

(2) Two-year visas for foreign executives and technicians

Foreign executives and technicians of foreign-invested enterprises may obtain visas valid for two years, and their accompanying spouses and minor children can apply for visas with the same period of validity. Relevant extensions or reissue procedures are also available.

(3) Port visa services expansion

Since 2023, the reinstatement and expansion of port visa services to additional entry points have enabled foreign nationals holding ordinary passports to obtain port visas for urgent business cooperation, visits, investments, entrepreneurial ventures, tourism, or sightseeing purposes in China.

To date, over 950,000 applications have been successfully processed, restoring the issuance volume to its pre-pandemic level.

(4) Visa-free transit

China has implemented 72/144-hour visa-free transit policies for nationals from 54 countries at 31 ports across 18 province-level regions.

Since January 2013, more than 500,000 foreigners traveled through China under the visa-free transit policy.

(5) Multilingual services

The National Immigration Administration has established multi-language government websites and new media platforms to publish policies regarding entry and exit policies for foreigners, as well as visa and document application procedures.

A 24-hour global hotline service 12367 has been launched, receiving more than 7 million consultations since 2021, with a satisfaction rate of 97 percent.

2. Stay policy

(1) Five-year residence permits

Foreign nationals employed in China who have obtained a work-type residence permit (one year or more) for two consecutive terms, along with foreign managerial, professional technical personnel, and members of research and innovation teams working in prominent enterprises and research institutions may be granted five-year residence permits.

Those meeting relevant conditions may also be approved for permanent residency in China.

(2) No need to reapply for residence permits

Foreign management and professional technical personnel permitted to work in China are not required to reapply for residence permits when transferring work positions across regions within their affiliated enterprises or institutions, or pursuing academic degrees at domestic institutions of higher learning.

(3) Passport convenience

Foreign nationals applying for residence documents in China due to investment, entrepreneurship, work, or study purposes may be exempted from depositing their passports at the exit-entry administrations of the public security bureaus. Instead, after on-site inspection and verification they can hold onto their passports and later bring them to collect their residence documents at the agreed time.

(4) Paperless procedures

When processing visa applications, foreigners will not be asked to provide paper documents when the National Immigration Administration has access to the relevant information through inter-departmental information sharing, such as individual accommodation registration records and the business license of the inviting (employing) enterprise.

(5) Online services

Through functions such as the Mobile Office and Online Office on the immigration management government service platform, foreigners may make online appointments, check progress, and inquire about visas and other documents.

​Company Registration

1. What materials should people prepare to register a limited liability company?

Choose a suitable name, find a business location, identify shareholders, define business scope, determine the amount of registered capital, and designate a legal representative.

2. Is a company required to have a name upon registration?

Yes. It is a legal requirement for a new company to have a name upon registration in accordance with the Administrative Regulation of the People's Republic of China on the Registration of Market Entities.

3. Are there any requirements in the selection of a company name upon registration?

There are clear, elaborate, and specific requirements in the selection of a company name in the Provisions on the Administration of Enterprise Name Registration. For instance, the proposed company names must not damage national dignity or interest, undermine public interest and social order, or offend public order as well as good morals. Thus, all proposed names must undergo scrutiny by registration authorities.

4. How can people know whether their proposed company names meet the registration requirements?

Log into the website of the Shanghai Online Business Registration platform, which will automatically check the feasibility of the proposed company name in accordance with laws.

5. What information must company shareholders provide during registration?

According to the Administrative Regulation of the People's Republic of China on the Registration of Market Entities, market entities must register with their real names. Thus applicants shall cooperate with registration agencies on the verification of ID information and fill in the name, ID number, capital contribution, and contribution dates of shareholders on the application forms.

6. How must shareholders cooperate with registration agencies over the verification of their identity information?

In Shanghai, company registration is processed entirely on the website of the Shanghai Online Business Registration platform. Shareholders and other relevant personnel must undergo the verification of their identity information via such digital methods as facial recognition and utilize electronic signatures in compliance with the Electronic Signature Law of the People's Republic of China.

7. Are there any contribution requirements for shareholders during company registration?

According to the Company Law of the People's Republic of China, the registered capital of a limited liability company comprises the total contributions subscribed by all shareholders registered with the registration authorities. Upon company registration, domestic and international shareholders are entitled to subscribe their registered capital as stipulated in the articles of the enterprise constitution. There is no minimum requirement for the subscription of registered capital by shareholders.

8. Are companies required to submit their application materials to the registration agencies when there are some changes concerning their business scope and other matters after their establishment?

According to the Administrative Regulation of the People's Republic of China on the Registration of Market Entities, in matters where market participants modify their registration, they shall extend the application to the registration authorities for modification registration within 30 days after the modification resolution, decision, or statutory modification matter occurs.

9. Are there any requirements for the education or working experience of shareholders during company registration?

No. Both natural and legal persons are eligible to invest in and set up companies when they meet legal requirements. During the registration process, they only need to submit the required documents per regulations. There's no need for shareholders to provide their educational or training certificates, proof of a clean criminal record, business plans, feasibility studies, financial plans, or other related documents.

10. Are there any restrictions on the number of companies, the amount of investment, and the distribution of revenues for international investors who want to establish their enterprises in China?

No, there are no such limitations under Chinese laws and regulations.

11. Are international investors required to purchase raw materials and other commodities from China for their business production if they founded companies in the country?

No, there aren't any relevant limitations. Foreign-invested companies are entitled to independently choose their product suppliers.

12. Are there any special requirements for foreign-funded companies in China for the employment of people of Chinese or foreign nationalities?

These companies have the autonomy to determine whether to employ Chinese or international personnel based on their business operations. There are no legal restrictions or regulations concerning the employment of foreign nationals.

13. Are foreign investors allowed to invest in and establish banks or insurance institutions in China?

According to Order No. 5 [2018] of the China Banking and Insurance Regulatory Commission and the Regulations of the People's Republic of China on the Administration of Foreign-funded Financial Institutions, restrictions on foreign ownership of Chinese-funded banks and insurance institutions have been removed. This policy modification guarantees the equity investment proportion between domestic and foreign investors, allowing foreign ownership in banking and insurance institutions to reach 100 percent.

14. How are a company's business activities reflected on its license?

The business activities conducted by a company are outlined within the license through its business scope. According to the Administrative Regulation of the People's Republic of China on the Registration of Market Entities, the business scope of market entities encompasses both general business projects and licensed business projects in accordance with risk levels associated with specific business activities. If the business scope involves licensed projects that require legal approval before registration, market entities must submit the relevant approval documents when applying for registration. When applying for registration via the website of the Shanghai Online Business Registration platform, people can tick their business scope in accordance with the business project classification standards promulgated by registration authorities.

15. Is it a requirement for companies to submit their annual and financial reports to the registration agencies during their operation?

According to No.654 Decree of the State Council of the People's Republic of China — Interim Regulations on Information Disclosure of Enterprises, companies are required to submit their previous year's annual report to the market supervision departments through the enterprise credit information disclosure system between January 1 and June 30 of each year and subsequently publish it publicly. The contents of the annual report must include the number of employees, total assets, total liabilities, external guarantees and pledges, total owner's equity, total operating income, main business income, total profits, net profits, and total tax payments.

16. Are applicants required to make a declaration of the information of beneficiary personnel to the registration agencies upon the establishment of their companies?

According to the Administrative Regulation of the People's Republic of China on the Registration of Market Entities, beneficial ownership information is considered statutory filing information and must be submitted to the registration departments.

Green Development

17. Is it necessary to obtain an environmental permit before conducting business activities?

It is a basic state policy of China to protect the environment. All units and individuals are obliged to engage in environmental conservation. All enterprises, public institutions, and other market entities shall take action to prevent and reduce environmental pollution and ecological damage. There are different requirements for market entities to pay attention to environmental protection in terms of risk levels associated with their business activities. People can check the Classification Management List of Environmental Impact Assessment for Construction Projects Implementation Detailed Provisions (2021 Edition) in Shanghai to determine whether an environmental impact assessment is required.Construction projects with low environmental impact and that are not specified in the classification management list are not subject to environmental impact assessment management and generally do not have to undertake an environmental assessment.Enterprises shall engage in the writing of environmental assessment reports and get the public involved in the process in accordance with relevant regulations after registration when their construction projects are required to do so.Please visit and apply for online approvals through the Government Online-Offline Shanghai portal of the Shanghai Municipal People's Government.For construction projects that are required to handle the completion of an environmental impact registration form, please fill out the registration form online through the Construction Project Environmental Impact Registration Form Online Filing System.

18. What are the supervision requirements of the Environmental Protection Department for business activities that do not require environmental permits?

In Shanghai, environmental permit notification prompts have been incorporated into the process of company establishment. When investors register a company on the Shanghai Online Business Registration, it will automatically prompt them to comply with environmental laws and regulations and inform them of the environmental classification of supervision requirements.The relevant requirements for new enterprises with low or very low environmental impact in terms of environmental permits have been centrally announced on the websites of the Government Online-Offline Shanghai and the Shanghai Municipal Bureau of Ecology and Environment. People can query this information through the above websites. 

Digital Transformation

19. Can a company be registered and established in Shanghai through the internet?

In Shanghai, the establishment of a new enterprise can be completed entirely online through the Shanghai Online Business Registration platform. The specific steps are as follows:1) Apply for enterprise registration, seal engraving, tax-related matters, employment, and social insurance online through a "one-stop" application process.2) All documents required for company establishment and registration are automatically generated by Shanghai Online Business Registration. Shareholders can verify their identities via internet-connected links, electronically sign documents with electronic signatures compliant with the Law of the People's Republic of China on Electronic Signature, and submit all electronic documents directly to the registration department via the internet.3) Upon completion of company establishment and registration, people can immediately process their employment information and social insurance. Electronic business licenses and electronic seals can be downloaded and used on mobile devices, allowing the issuance of electronic invoices when engaging in business activities.4) After online approval of registration departments, all registration materials will be archived in electronic format. 

20. Can people process the changes of their company's name, legal representatives, and other matters online after an enterprise establishment?Yes. They can visit Shanghai Online Business Registration to complete the changes online. The specific steps are as follows:1) Declare change information online.2) Submit electronic documents online and complete electronic signatures.3) Obtain an electronic business license.

21. How can people download and use the electronic business license after company registration?

All registered companies can download and use their electronic business licenses. In 2023, the usage of electronic business licenses in Shanghai exceeded 58 million, ranking first nationwide. After company registration, a legal representative can use mobile devices such as smartphones to authenticate their identity information through the WeChat or Alipay mini-programs of electronic business license and download the e-license. Once downloaded, the legal representative can authorize others to manage and use the e-license.

22. Are there any unique identification numbers for companies besides their names?

All enterprises nationwide use the Unified Social Credit Code as the sole identification number. Upon company registration, each company will be assigned a Unified Social Credit Code by the registration departments, which is recorded on the business license. All government departments use the Unified Social Credit Code to identify corporate entities.

23.Are companies required to declare registration information to other government departments such as taxation and human resources after the changes of their registration information?

All company registration information in Shanghai is stored in a single database. According to regulations such as the Regulations of Shanghai Municipality on Data, all government departments can access company registration information through the database, so there is no need for relevant companies to declare their information after revision to other departments separately. The updated information will automatically be sent to relevant departments after the changes in registration information, eliminating the need for separate declarations.

24. What is the purpose of the QR code on the business license?

The QR code is the Business Entity Identity Code (referred to as the "Code"), which is given to all business entities by market regulation departments in accordance with national standards. The Code can be found on the national unified electronic business license system, loaded on both electronic and paper business licenses. The Code links to enterprise registration, operational permits, supervision, and other related enterprise information, allowing the public to view it by scanning the code with WeChat or other mobile apps.

Information Transparency

25. Where can people find the documents required for company registration?

According to the Administrative Regulation of the People's Republic of China on the Registration of Market Entities, the State Administration for Market Regulation will develop a list of registration materials and document formats for different types of market entities, and make them reachable publicly through government websites and registration authority service windows. People can find the required forms, list of materials, and sample formats in the Registration Document Guidance section of the Shanghai Online Business Registration platform.

26. Where can people find the service standards for company registration?

People can inquire about relevant service standards online in the Business License section of Government Online-Offline Shanghai.

27. Where can people find the registration information of all types of enterprises nationwide?According to the Administrative Regulation of the People's Republic of China on the Registration of Market Entitiesand its Implementation Rules, the State Administration for Market Regulation has developed unified standards for market entity registration data and system construction. The State Administration for Market Regulation has established a national unified enterprise registration database, which collects all national market entity registration management information and makes it public through the National Enterprise Credit Information Publicity System. People can access all enterprise registration information nationwide on this system, which includes the company name, Unified Social Credit Code, the names of company directors and shareholders, date of establishment, registered address, business scope, and more.

28. How many new companies were established in Shanghai in 2023?

In 2023, Shanghai saw the establishment of 369,000 limited liability companies, marking a 24 percent year-on-year increase from the same period of 2022. People can find specific data by visiting the Firm Statistics column on the Shanghai Online Business Registration platform.

29. Does Shanghai provide specific-purpose public funding programs to support the development of SMEs?

To ensure small and medium-sized enterprises (SMEs) can fairly compete in the market, safeguard their legitimate rights and interests, support entrepreneurship and innovation, stabilize and expand urban and rural employment, and leverage their significant role in national economic and social development, Shanghai has formulated and implemented the Regulations of Shanghai Municipality on Promoting the Development of SMEs. In accordance with these regulations, Shanghai has provided specific funding programs for SMEs on a yearly basis. People can access relevant information and apply for funding through the SMEs Public Funding Programs column on the Shanghai Online Business Registration platform or through the One-stop Access to Municipal Funding column on the Government Online-Offline Shanghai.

Female Entrepreneurship

30. Does Shanghai have any supportive policies for women to start their businesses?

It is a fundamental state policy of gender equality in China. Women are entitled to enjoy equal rights with men in terms of political, economic, cultural, social, and family affairs. In 2023, a total of 1,673 enterprises in Shanghai reaped benefits from the Special Funds for the Development of SMEs in Shanghai, 661 of which were established with female investors. To encourage women to launch businesses, Shanghai has carried out supportive activities every year. 

31. How many women invest and start businesses in Shanghai?

According to statistics, among the newly established limited liability companies in 2022, there were 142,000 limited liability companies with at least one female shareholder. The number of female shareholders and directors reached nearly 170,000 and 103,000, respectively.These numbers further increased in 2023. People can find more details through the Firm Statistics column on the Shanghai Online Business Registration platform.

Time and Costs

32. How long does it usually take for people to establish a company in Shanghai?

In accordance with the Regulations of the Shanghai Municipality on Optimizing the Business Environment, the establishment of Chinese and foreign-funded companies can be processed through the Shanghai Online Business Registration platform. This platform handles applications for business licenses, seals, invoices, basic social insurance, and other related services. If all documents are complete and compatible with statutory forms, relevant government departments will complete the process on the spot. If the application cannot be done on the spot, it should be completed within one working day.

33. Are there any fees charged for people to start a business in Shanghai?

The establishment of a business in Shanghai is entirely free of charge. After establishment, people can obtain their electronic business licenses and electronic seals for free. All Chinese and foreign-funded enterprises thus do not have to pay any fees to government departments. Additionally, Shanghai provides newly founded companies with free seal-engraving services. Newly established businesses that require physical seals can apply for a set of four physical seals for free (corporate seal, seal of legal representative, special financial seal, and special invoice seal).

34. How long does it take for companies to open a bank account after their establishment?

To further facilitate the opening of bank accounts for companies, the People's Bank of China (PBOC) has made consistent efforts to optimize its administrative services and further improve the convenience and efficiency of account opening. In accordance with the Guidelines of the People's Bank of China on Improving Banking Account Services and Risk Prevention for SMEs (No.260 in 2021), it often takes about 1-3 working days from the appointment to the completion of account opening. If a company wants to open a simplified account, the account can be opened on the spot provided that all required documents are provided.

35. Do people have to pay fees for the opening of their bank account after the company's establishment?

Major commercial banks have implemented fee waivers for the opening of basic deposit accounts.

Q1: Do China's port visas equal the commonly known "visas on arrival"? Which ports are authorized to issue port visas?

Answer: China's port visas are similar to the "visas on arrival" of some other countries. The term refers to a "way" or "method" to apply for visas, rather than a specific type of visa like "business visa" or "tourist visa". Regardless of the names, every country sets corresponding application conditions and processing procedures according to its laws for foreign nationals to apply for visas in this way.

According to the relevant Chinese laws and regulations, foreign nationals holding ordinary passports, who have urgent needs to enter China but do not have enough time to apply for visas at Chinese embassies or consulates abroad, can apply for port visas for entry. Foreign nationals applying for port visas can submit applications in advance to the port visa authorities by themselves or through inviting parties, or apply on-site upon arrival at ports in China.

To facilitate the applications, avoiding situations where applicants are unable to obtain approval for entry due to legal reasons such as being legally ineligible for visa issuance or entry upon arrival at ports, which may affect travel arrangements and increase economic and time costs, it is recommended that foreign nationals submit their applications in advance to the port visa authorities in the intended destinations, obtain preliminary approval from the port visa authorities, and then go to the corresponding ports for applying for visas. For foreign tourist groups applying for port visas, the Chinese travel agencies responsible for the reception should apply for them in advance at the port visa authorities.

As of now, port visa services have been provided at 99 ports in 72 cities nationwide with a large number of international flights and a high volume of foreign nationals entering China. (For the details of the major port visa authorities in China and their contact information, please visit the official website of the National Immigration Administration.)

Q2: What are the "situations of urgent needs of entering China" that are eligible to apply for Chinese port visas?

Answer: Any foreign ordinary passport holder who has an urgent need to travel to China for business cooperation, visits and exchanges, investment and entrepreneurship, visiting relatives and handling private affairs, etc., or for humanitarian reasons such as attending funerals or visiting critically ill patients, and are unable to obtain a visa from Chinese embassies or consulates abroad in time, can apply for a port visa at a port visa authority in China.

Q3: What documents are required to apply for a port visa in China?

Answer: A foreign national who plans to apply for a port visa at a port visa authority is required to submit his/her valid passport or any other international travel document, along with relevant supporting documents that evidence the urgent reason(s) for his/her entry into China. Once the visa is issued, he/she may enter China from the port where the visa application is made. As for the supporting documents, a foreigner entering China for urgent business activities, for example, shall submit the inviting party's invitation letter explaining the business purposes, details of emergency, and main itinerary arrangements, as well as relevant proof of the emergency. For more information, please contact the port visa authority at the intended port of entry.

Q4: What types of visas can be extended, renewed, and re-issued for foreign nationals in China in their vicinity?

Answer: Foreign nationals coming to China for short-term non-diplomatic and non-official activities such as business cooperation, visit and exchange, investment and entrepreneurship, visiting relatives, tourism, or private matters, etc., and have legitimate reasons for extending their stays may submit applications to the nearest exit-entry administrations of the public security organs located in the places where they stay for the extension, renewal, and re-issuance of their business visas (M visas), visit visas (F visas), short-term private affair visas (S2 visas), and short-term family visit visas (Q2 visas), as well as for the extension and re-issuance of their tourist visas (L visas).

Q5: How to apply for group tourist port visas?

Answer: For foreign tourist groups consisting of two or more people applying for group tourist port visas, the Chinese travel agency responsible for organizing and receiving such groups must submit invitation letters, lists of personnel, and tourist reception plans to the relevant port visa authorities in advance. The above tourist groups can enter and exit from all open ports in China.

A new policy on subsidies for multinational corporations in Shanghai came into effect on February 1, and will run through January 31, 2029.

Earlier this month, Shanghai released a work plan to enhance its business environment, with 150 initiatives aimed at attracting foreign investments and enterprises.

The newly announced subsidy policy is part of the drive to encourage more MNCs to set up regional headquarters and research and development centers in Shanghai, boost foreign-invested businesses and improve the quality of foreign investments.

MNCs that intend to establish or have already had regional headquarters and R&D centers in Shanghai can receive considerable funds, with financial support provided by both the district government (60 percent) and the city government (40 percent). Additionally, the district government will provide rental subsidies for qualified MNCs.

Application requirements

1. Companies established in Shanghai must have operated legally and continuously for over one year, and have sufficient economic and social benefits.

2. The companies must have commendable financial and tax credits and sound financial management structure. They must not be listed by any level of government as dishonest debtors, and there should be no history of defaults on the city's public credit information platform within the past 3 years.

3. Companies must submit foreign-invested enterprise information reports as required.

Applicants are prohibited from repeatedly applying for financial assistance for the same matter. Be responsible for the authenticity, accuracy and completeness of the application materials.

Subsidy standards

Business establishment subsidies

1. To qualify for a 5-million-yuan (about US$695,000) subsidy, the companies must meet the following criteria:

2. To qualify for a 5-million-yuan subsidy, the R&D centers must meet the following criteria:

3. The establishment subsidy will be provided over 3 years based on the ratio of 4:3:3.

4. Note that is that all the MNCs should submit the application materials within three years of being recognized as a MNC regional headquarters or global research and development center.

Rental subsidies

1. Requirements to get a three-year subsidy based on 30 percent of the rent:

2. For global R&D centers recognized in Shanghai after December 1, 2020, with no fewer than 50 full-time R&D personnel, a rental subsidy can be enjoyed according to the same standards.

3. Enterprises should submit rental subsidy applications within three years of being recognized as regional headquarters, divisional headquarters, or global R&D centers.

4. During the subsidy period, self-used office space shall not be leased or sublet, and the purpose of the office space shall not be altered. Violations of the above provisions shall require the return of the received subsidy.

High-level rewards

Criteria of a 3-million-yuan reward:

Operational rewards

1. MNCs with regional headquarters in Shanghai, with a paid-up registered capital of no less than US$2 million, and an annual revenue of 500 million yuan or more:

2. MNCs with divisional headquarters in Shanghai, with a paid-up registered capital of no less than US$2 million and an annual revenue of 1 billion yuan or more:

3. The reward will be provided over three years based on the ratio of 4:3:3. Companies are required to submit an application in the year following the achievement of the operational reward criteria.

Capital-increase rewards

1. A one-off reward of 2 million yuan will be given:

2. Only one capital increase reward can be enjoyed during the implementation period.

3. The amount of capital increase corresponding to the capital increase incentive shall be calculated based on the amount included in the actual foreign investment statistics of the Ministry of Commerce. The applicant shall make a written commitment not to reduce, withdraw, or switch to domestic investment within three years.

4. Enterprises should hand in the application material after the year of the amount of capital increase. Applications for both capital increase reward and establishment subsidies are not allowed within the same year.

Application and review process

1. The Shanghai Commission of Commence will publish the notification of headquarters capital application and clarify the application requirements.

2. All qualified MNCs can apply and provide the required application materials.

3. The commission will entrust a third-party institution to process the materials. The commission will then re-examine the materials based on the results of the third-party institution and Shanghai's bureau of finance to make the final decision.

4. The commission, in collaboration with the bureau of finance, will inform the commerce authorities and finance departments of enterprises regarding the audit outcome.

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The staff is very efficient and detail oriented. I would be happy to refer them to any prospective client.

David C. Boggini

Founder & CEO, Boggini Trading (Shanghai) Co., Ltd
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