New rules issued by the Ministry of Industry and Information Technology (MIIT) have opened up China’s e-commerce sector nationwide to foreign ownership, however legal experts warn that investors need know where those rules apply.
The MIIT issued the rules in the Notice on Lifting the Foreign Equity Ownership Cap on Businesses Providing Online Data Processing and Transaction Processing Services, which took effect on 19 June.
E-commerce has not opened to foreign investment overnight. Zhang Jida, a partner of DaHui Lawyers based in Beijing, told China Business Law Journal that a pilot programme was first initiated in Shanghai.
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