China further liberalizes foreign investment rules

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The Ministry of Commerce (MOFCOM) recently brought significant changes to current foreign investment regulations, including the removal of minimum capital requirements.

MOFCOM issued Decree No. 2 on 28 October, which amended 29 ministry-level regulations, and abolished minimum capital requirements for China holding companies (CHCs), foreign-invested joint stock companies (FISCs), foreign-invested venture capital enterprises, foreign-invested financial leasing companies, foreign-invested logistics companies and commercial factoring companies.

The rules related to equity capital contribution are also further relaxed. The decree also simplifies the approval processes for strategic foreign investment into listed companies. These changes will encourage investment in the above types of companies, as well as restructuring of existing companies.

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Business Law Digest is compiled with the assistance of Baker & McKenzie. Readers should not act on this information without seeking professional legal advice. You can contact Baker & McKenzie by e-mailing Danian Zhang (Shanghai) at: danian.zhang@bakermckenzie.com

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