According to the information from Jiaxing Municipal Administration for Commerce and Industry, The Administrative Measure of the Partnership Enterprises by Foreign Enterprises or Individuals in China was put into effect in March. As a new type of investment subject, partnership enterprises will be a new approach to investment in Jiaxing by foreign enterprises or individuals.
The Measure regulates that there are two kinds of partnership enterprises set up by foreign enterprises or individuals. One is the partnership enterprises set up in China by two or more than two foreign enterprises or individuals, and the partners are all foreign enterprises or individuals. The other is the partnership enterprises set up in China by two or more than two foreign enterprises or individuals and Chinese natural persons or legal persons or other organizations.
It also regulates that enterprises with sole state ownership, state-owned enterprises, listed companies and public welfare institutions and social organizations shall not become common partners.
According to the Measure, when foreign enterprises or individuals set up partnership enterprises in China, they just apply for registration in enterprise registration organizations with no need of administrative examination and approval. If the partnership enterprises are in conformity with the industry guidance policy, the partners just apply for registration in administration for commerce and industry with no need of examination and approval by the department of commerce first.
