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In 2024, the newly revised Company Law of the People's Republic of China was adopted by the seventh session of the Standing Committee of the 14th National People's Congress on December 29, and promulgated by Order No.15 of the President of the People's Republic of China. It will come into force on July 1, 2024. The Company law is revised again!

A Chinese-foreign joint venture refers to an enterprise in which Chinese and foreign joint venturers jointly invest and operate within the territory of China in accordance with Chinese laws, and share profits, risks and losses in proportion to their investments.

Import and export license is a document issued by the government authorizing enterprises to import or export specific goods and commodities to or from China.

Process for establishing a WFOE in China:

China’s economic growth and market potential have made it an attractive destination for foreign investors. As a Chinese author, it is essential to provide a detailed understanding of the types of foreign-invested enterprises (FIEs) in China, their legal frameworks, and the considerations that foreign investors should take into account when establishing a business presence in the country.

In China, legally incorporated companies are issued business licenses by the Chinese company registration authority, the Administration for Market Regulation.

Attention first, all certificated documents and legal instruments must include the signature of the local official ( generally is local Diplomatic Office, High Court of Justice, State Government, Public Notary Office or other authorities ) and the stamp of Chinese Embassy.